BAKU, Azerbaijan, April 11. The inflation rate in Azerbaijan is expected at 9 percent in 2023, Trend reports via the latest World Economic Outlook from the International Monetary Fund (IMF).
The forecast has been kept unchanged from the previous outlook (October 2022).
As of 2024 forecast, the inflation rate in the country is projected to slow down to 7 percent.
The IMF analysts expect Azerbaijan's inflation rate to drop further in 2028 to 4 percent (the same as in the previous outlook for 2027). Meanwhile, inflation rate in Azerbaijan is estimated at 13.8 percent (6.7 percent in 2021, according to IMF estimations).
At the same time, the World Bank (WB) expects inflation rate in Azerbaijan to stand at 8.5 percent in 2023. According to WB analysts, inflation rate in the country is projected to ease to 6.2 percent in 2024, and even further to 5.4 percent in 2025.
In accordance with the base scenario of the Central Bank of Azerbaijan (CBA) for 2023, the annual inflation in the country is forecast at about 8 percent.
Meanwhile, "global headline inflation is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices, but underlying (core) inflation is likely to decline more slowly".
