S&P expects inflation in Azerbaijan to slow to 4% by 2029

S&P Global Ratings forecasts a slowdown in average annual inflation in Azerbaijan in 2025-2028, Report informs referring to the ratings agency.

According to forecasts, average annual inflation in Azerbaijan will accelerate to 5.7% in 2025 from 2.2% in 2024. However, inflation will slow to 4.7% in 2026, 4.4% in 2027, and 4% in 2028.

According to forecasts from Azerbaijan's Ministry of Economy, average annual inflation in the country will be 5.4% in 2025, 4.8% in 2026, and 4.5% in 2027. According to the latest forecasts from the Central Bank of Azerbaijan (October 2025), annual inflation will be around 6% this year and around 5.7% in 2026.

From January to October 2025, average annual inflation in Azerbaijan was 5.7%.