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 has increased the average annual inflation forecast in Azerbaijan for 2024 from 1,1% to 1,5%.
This is 0,4% more than the corporation's July forecast. ING increased its inflation forecast for 2025 from 3,8% to 4%.
According to forecasts, the average annual inflation in Azerbaijan is expected to be at 1,9% (+0,7%) in the third quarter of 2024, and at 3,2% (+0,7%) 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-July of this year was 0.7%.
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