ING forecasts inflation to decrease sharply in Azerbaijan this year

ING forecasts inflation to decrease sharply in Azerbaijan this year
# 14 May 2024 10:06 (UTC +04:00)

ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has decreased sharply the inflation forecast for Azerbaijan, APA-Economics reports.

ING predicted the average annual inflation forecast will come down for 2024 from 3,1% to 1,6%. This is 1.5% less than the corporation's April forecast. ING set the inflation forecast at 3.8% in 2025 and 4.2% in 2026.

According to forecasts, the average annual inflation in Azerbaijan is expected to be 0.1% in the second quarter of 2024, 1.3% in the third quarter, and 2.6% in the fourth quarter.

Noted that the Ministry of Economy has predicted that the annual inflation in the country will be 5.3% in 2024 and 4.9% in 2025. The State Statistics Committee announced that inflation for January-April of this year was 0.7%.

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