ING Corporation updated forecast on inflation in Azerbaijan

News & Updates

The International Corporation of Banking & Financial Services of the Netherlands ING (Internationale Nederlanden Groep) has updated the forecast on inflation in Azerbaijan. reports that ING predicts that the consumer price index in the 4th quarter of 2023 will be 3.6%, and in 2023 – 9.2%.

The Corporation believes that in 2024-2025, inflation in Azerbaijan will further decrease and make up 5.6%.

Earlier, Fitch Ratings predicted that average annual inflation in Azerbaijan will reach 10.1% in 2023 and 6% in 2024.

The Ministry of Economy of Azerbaijan announced that by the end of 2023, average annual inflation will be 9.5%, in 2024 – 5.3%, in 2025 – 4.9%.

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