BAKU, Azerbaijan, June 8. The S&P Global Ratings has lowered its forecast for the average annual inflation in Azerbaijan to three percent for 2024, down from its April forecast of 3.5 percent, Trend reports.
S&P data shows that the agency expects a similar level of inflation for 2025-2027.
To note, the International Monetary Fund (IMF) predicts a 3.5 percent average annual inflation in Azerbaijan in 2024, five percent in 2025, and four percent in 2029.
The World Bank anticipates three percent inflation in the country in 2024, 3.5 percent in 2025, and four percent in 2026.
The Asian Development Bank (ADB) forecasts that average annual inflation in Azerbaijan will be 5.5 percent in 2024, increasing to 6.5 percent in 2025.
Meanwhile, the Dutch ING Group predicts average annual inflation in Azerbaijan at 1.6 percent in 2024, 3.8 percent in 2025, and 4.2 percent in 2026.
The government of Azerbaijan forecasts average annual inflation at 5.3 percent for 2024.
The average annual inflation in the country was 8.8 percent in 2023.
