ING lowers inflation forecast for Azerbaijan

The Dutch ING Group predicts average annual inflation in Azerbaijan at 4.4% in 2024 and 5.5% in 2025, Report informs, citing the company.

The latest forecast for this and next year is 0.1 percentage points less than February.

ING Group expects average annual inflation in Azerbaijan to be 5.8% in the first quarter of 2024, 1.8% in the second quarter, and 4.2% in the thirdm quarter.

According to the forecast of the country’s Ministry of Economy, annual inflation will be 5.3% in 2024, and 4.9% in 2025.

The UN forecast was 5.9% for this year, and 3.9% for 2025. The International Monetary Fund predicts 4.7% inflation in Azerbaijan this year and 5% in 2025.

According to World Bank estimates, average annual inflation in Azerbaijan this and next year will be 5.8% and 5.2%, respectively.