Azerbaijan's inflation to stay near Central Bank's target

Inflation in Azerbaijan in 2024 will remain close to the Central Bank's target range of 4±2%, Azernews reports citing Fitch Solutions (FS), a company belonging to the "Fitch Group."

FS has forecasted the average annual inflation in the country to be 2.5% for this year and 3.5% for 2025.

The analysts at "Fitch Solutions" noted that the average annual inflation dropped to 1.2% in the first four months of this year. As an energy exporter, Azerbaijan's economy is somewhat shielded from fluctuations in global oil prices, minimizing their impact on domestic fuel prices.

However, changes in global inflation could still affect the domestic economy through import channels.