The United Nations forecasts inflation in Azerbaijan at 4% in 2026 and 3.5% in 2027, Report informs, citing UN data.
The UN estimates that inflation in Azerbaijan reached 5.6% in 2025. Azerbaijan's Ministry of Economy predicts average annual inflation of 4.8% in 2026 and 4.5% in 2027. According to the latest forecast from the Central Bank of Azerbaijan in October 2025, annual inflation for the current year is expected to be around 5.7%.
The Dutch banking group ING forecasts average annual inflation in Azerbaijan at 5.3% in 2026 and 8.9% in 2027. The World Bank expects average inflation at 2.3% for 2025–2026. The Asian Development Bank predicts 3.5% inflation in 2026.
International rating agencies also provided estimates: Moody's expects average annual inflation this year at 3%, Fitch Ratings at 4.6%, and Fitch Solutions forecasts 5.5% in 2026 and 4.8% in 2027. According to the State Statistics Committee, average annual inflation in Azerbaijan was 2.2% in 2024 and 5.7% from January to November 2025.