The largest Dutch banking group, ING Group, forecasts average annual inflation in Azerbaijan at 5.7% in 2026, 5.4% in 2027, and 6% in 2028, Report informs referring to the ING.
The inflation forecasts for 2026-2027 are kept unchanged compared to the previously published assessment, while the forecast for 2028 is raised by 0.7 percentage points.
According to Azerbaijan's State Statistical Committee, the average annual inflation in the country at the end of 2025 was recorded at 5.6%. In January-September 2026, average annual inflation in the country reached 5.7%.
The bank's analysts believe that in the fourth quarter of 2026, average annual inflation will be at the level of 5.7% (previously forecast at 5.8%). In addition, inflation is expected at 5.5% for the first quarter of 2027, 5.5% for the second quarter, 5.4% for the third quarter, and 5.4% for the fourth quarter.
According to the estimates of the Ministry of Economy, average annual inflation in Azerbaijan is forecast at 5.7% in 2026, 5.3% in 2027, and 4.8% in 2028. The Central Bank of Azerbaijan (according to the October forecast) expects annual inflation at 5.9% in 2026.