IMF sharply raises inflation forecast in Azerbaijan

The International Monetary Fund (IMF) predicts that this year the annual inflation in Azerbaijan will reach 12.3%. Report informs referring to the April IMF report, taking into account the impact of Russian hostilities in Ukraine on the global economy.

According to forecasts, annual inflation in Azerbaijan next year will be 8.7%.

In December last year, the IMF expected that the consumer price index in Azerbaijan this year will be 3.2%.