Dutch banking group ING Group forecasts average annual inflation in Azerbaijan at 5.7% in 2026, 5.6% in 2027, and 5.3% in 2028, Report informs citing the bank.
The inflation forecast for the current year was revised downwards by 0.1 percentage points (p.p.) compared to the previous estimate, while expectations for subsequent years remained unchanged.
According to the State Statistics Committee of Azerbaijan, average annual inflation in the country was recorded at 5.6% in 2025, compared to 2.2% in 2024. In January–September 2026, the country's average annual inflation rate reached 5.7%.
The bank's experts project average annual inflation at 5.7% in the third quarter of 2026 (previous estimate: 5.8%) and 5.4% in the fourth quarter (previously expected at 5.9%). In addition, inflation is forecasted at 5.7% for the first quarter of 2027, 5.7% for the second quarter, 5.4% for the third quarter, and 5.4% for the fourth quarter.
According to Ministry of Economy estimates, average annual inflation in the country is expected at 5.7% in 2026 and 5.3% in 2027. The Central Bank of Azerbaijan (according to its July forecast) expects inflation at 6.1% in 2026 and 5.8% in 2027.
International rating agency Fitch Ratings forecasts average annual inflation in Azerbaijan at 6.1% in 2026, 5.6% in 2027, and 4.9% in 2028.