BAKU, Azerbaijan, October 29. Inflation in
Azerbaijan is projected to reach 5.9% in 2026, which is 0.2
percentage points lower than the forecast released by the Central
Bank of Azerbaijan (CBA) in July, the CBA Governor, Taleh Kazimov
said at a press conference on Thursday dedicated to the parameters
of the interest rate corridor, Trend's correspondent reports from the event.
He said that inflation forecasts were updated in October, and
certain changes were made compared to the July forecasts.
“For 2026, we forecast inflation at 5.9%. This is a downward
revision of 0.2 percentage points compared to the July forecast.
The main reason for this is the lower-than-expected growth rate of
the agricultural producer price index. We view this positively,” he
noted.
Kazimov reported that the inflation forecast for 2027, on the
other hand, was raised by 0.1 percentage points compared to the
previous estimate. The main reason for this is the expected rise in
inflation among trading partners.
According to the CBA governor, one of the main factors
influencing inflation in Azerbaijan is external price dynamics. The
rise in global energy and food prices resulting from the conflict
in the Middle East has led to higher inflation among trading
partners, especially among import partners.
“We have brought this inflation into our own economy,” Kazшmov
emphasized.
He added that core inflation stood at 5.9% for the first nine
months of this year.
As for price trends, prices for food products, alcoholic
beverages, and tobacco products rose by 6.9%, while the
corresponding figures for non-food goods and services were 3.6% and
5.1%.
