World Bank increases inflation forecast for Azerbaijan

The World Bank predicts that the inflation in Azerbaijan will rise to 12.5% this year and 9.5% in 2023, Report informs, citing the bank's Europe and Central Asia Economic Update.

These figures are 3.5 percentage points and 2.9 percentage points higher than the World Bank's April forecast, respectively.

In 2024, inflation in Azerbaijan is expected to be 8%, which is 2 percentage points higher than the previous forecast.