Asian Development Bank (ADB) has adjusted the Caucasus and Central Asia subregional inflation projection for 2024 downward to 6.8%, from 6.9% in ADO September 2024, and the 2025 forecast held at 6.2%, APA reports citing ADB.
The downward revision reflects low inflation in Armenia, Georgia, the Kyrgyz Republic, and Tajikistan.
"There is no change in inflation projections for Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan," ADB noted.
Note that the ADB projected Azerbaijan's average annual inflation rate at 2.1% for 2024 and 3.8% for 2025 in September of this year.