ING Group once again lowers inflation forecast on Azerbaijan

The Dutch company ING Group predicts average annual inflation in Azerbaijan at 3.1% in 2024 and 3.8% in 2025, Report informs referring to forecasts published by the company.

The new forecast for this and next year is 1.3 and 1.7 percentage points less than the forecast for March, respectively.

According to forecasts, in the first quarter of 2024, the average annual inflation in Azerbaijan is expected at 4.2%, in the second quarter at 1.2%, in the third quarter at 2.7% and in the fourth quarter at 4.2%.

The Ministry of Economy expects annual inflation in the country at 5.3% in 2024 and 4.9% in 2025.

According to UN forecasts, average annual inflation in Azerbaijan this year will be 5.9%, and in 2025 it will drop to 3.9%.