ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has updated its inflation forecast for Azerbaijan for 2024, APA-Economics reports.
ING Group lowered the average annual inflation forecast in Azerbaijan for 2024 from 1.6% to 1.1%.
This is 0.5% less than the corporation's May forecast. ING kept its inflation forecast for 2025 at 3.8% and for 2026 at 4.2% .
According to forecasts, the average annual inflation in Azerbaijan is expected to be at 1.2% in the third quarter of 2024, and at 2.5% in the fourth quarter.
Note 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-May of this year was 0.6%.
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