The Asian Development Bank (ADB) projects that average annual inflation in Azerbaijan will rise to 5.7% in 2026, before moderating to 4.9% in 2027. This forecast remains consistent with the bank's previous projections released in April.
According to the Operative Information Center-OMM, which cited the ADB's latest "Asian Development Outlook" (ADO) report, these figures reflect the current assessment of the country's macroeconomic trajectory.
Data from the State Statistical Committee indicates that average annual inflation in Azerbaijan reached 5.6% in 2025, compared to 2.2% in 2024. Meanwhile, the Ministry of Economy of Azerbaijan forecasts average annual inflation at 4.8% for 2026 and 4.5% for 2027. The Central Bank of Azerbaijan, in its February 2026 forecast, anticipates annual inflation to be 5.9% for the current year and 4.5% in 2027.
International financial institutions offer varying perspectives on the nation's economic outlook. The UN projects inflation in Azerbaijan to reach 3.1% this year, while the World Bank expects the average annual inflation rate to settle at 2.3% in 2026. Among credit rating agencies, Moody's estimates inflation at 3% for the current year, while Fitch Ratings projects 4.6%. Additionally, Fitch Solutions forecasts inflation at 5.5% in 2026 and 4.8% in 2027, and the Dutch financial group ING Group anticipates rates of 5.8% and 5.6% for 2026 and 2027, respectively.
These forecasts are critical for Azerbaijan's economic planning, as the government continues to prioritize macroeconomic stability and sustainable growth. The ADB, as a major multilateral development partner, plays a significant role in monitoring these trends to support Azerbaijan's long-term development strategies and fiscal policies.
