BAKU, Azerbaijan, September 5. The Dutch ING Group analysts are predicting that inflation in Azerbaijan will be as high as 2.2 percent in 2024, which is a jump from the previous forecast of 1.5 percent, Trend reports.
The ING forecasts paint a picture of inflation soaring to 4.7 percent in 2025 (up from four percent in the last outlook), and then settling at 4.5 percent in 2026 (up from 4.2 percent).
The UN predicts average annual inflation in Azerbaijan at 5.9 percent in 2024 and 3.9 percent in 2025; the Asian Development Bank (ADB) - 5.5 percent this year and 6.5 percent next year, and the World Bank (WB) - 2.2 percent in 2024, and 2.3 percent in 2025.
The Central Bank of Azerbaijan, however, expects inflation in the country to be 5–5.5 percent in 2024.
ING, the Internationale Nederlanden Groep - was formed in 1991 and is an international banking and financial services firm based in Amsterdam. Its core industries include retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance.