Dutch financial firm lowers Azerbaijan's inflation forecast

The Dutch financial corporation ING Group has predicted average annual inflation in Azerbaijan at 4.4 per cent in 2024 and 5.5 per cent in 2025.

The new forecast for this and next year is 0.1 percentage points less than February, Report informs, citing forecasts published by the company.

ING Group experts expect average annual inflation in Azerbaijan to be 5.8 per cent in the first quarter of 2024, 1.8 per cent in the second quarter, and 4.2 per cent in the third.

Note that according to the forecast of the Ministry of Economy, annual inflation in the country will be 5.3 per cent in 2024, and 4.9 per cent in 2025.

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

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