ING forecasts inflation to decrease sharply in Azerbaijan this year

12:16 - 14.05.2024

May 14, Fineko/ ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has decreased sharply the inflation forecast for Azerbaijan.

ABC.AZ reports that ING predicted the average annual inflation forecast will come down for 2024 from 3,1% to 1,6%. This is 1.5% less than the corporation's April forecast. ING set the inflation forecast at 3.8% in 2025 and 4.2% in 2026.

According to forecasts, the average annual inflation in Azerbaijan is expected to be 0.1% in the second quarter of 2024, 1.3% in the third quarter, and 2.6% in the fourth quarter.

The Ministry of Economy has predicted that the annual inflation in the country will be 5.3% in 2024 and 4.9% in 2025. The State Statistics Committee announced that inflation for January-April of this year was 0.7%.