Minister: Average annual inflation in Azerbaijan will be 9.5%

Taking into account external and internal factors affecting price increases, including forecasts that the world food price index will be lower next year, the average annual inflation in Azerbaijan will be at the level of 9.5% this year, Economy Minister Mikayil Jabbarov said during the discussion of the 2024 state budget forecasts at a meeting of the Milli Majlis Committee for Economic Policy, Industries, and Enterprising, Report informs.

The minister said that inflation is predicted to be 5.3% in 2024 and 4-5% in 2025–2027, in accordance with the target range set by the strategy.