BAKU, Azerbaijan, April 16. The International Monetary Fund (IMF) predicts consumer prices in Azerbaijan to stand at 3.5 percent in 2024, Trend reports.
Thus, the forecast has been revised down from the previously expected 4.7 percent.
According to IMF predictions, the country's end-of-period consumer prices will stand at 5 percent in both 2024 and 2025. Then the index is expected to slow down to 4 percent in 2029.
Meanwhile, inflation in Azerbaijan dropped to 8.8 percent in 2023, a decrease from 13.9 percent in 2022.
Worldwide, inflation is expected to go down gradually, dropping from 6.8 percent in 2023 to 5.9 percent in 2024 and 4.5 percent in 2025. Advanced economies are predicted to reach their inflation targets earlier than emerging market and developing economies. Core inflation, on the whole, is expected to decrease more slowly.
