ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has updated the inflation forecast for Azerbaijan, SİA reports.
ING predicted the consumer price index will come down for the fourth quarter 2023 from 3.6% to 3.3%, and for 2023 from 9.2% to 9.1%.
The corporation considers that inflation in Azerbaijan will decrease further in the next two years. Thus, ING predicted that inflation will be 5.0% in 2024 and 5.6% in 2025.
The Ministry of Economy of Azerbaijan announced that the average annual inflation at the end of 2023 will be 9.5%, 5.3% for 2024, and 4.9% for 2025.
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