Baku:ING Group, the largest banking group in the Netherlands, has announced its forecast that average annual inflation in Azerbaijan will stand at 5.7% in 2026 and 5.4% in 2027.

According to Azeri-Press news agency, ING has left its inflation forecasts for 2026 and 2027 unchanged compared with its previous estimates. The bank's analysts expect average annual inflation to reach 5.7% in the fourth quarter of 2026, slightly down from a previous forecast of 5.8%.

Inflation is projected to stand at 5.5% in the first and second quarters of 2027 and 5.4% in the third and fourth quarters. Furthermore, ING has increased its forecast for average annual inflation in Azerbaijan for 2028 by 0.7 percentage points to 6%.

It is noted that, According to State Statistical Committee, average annual inflation in Azerbaijan stood at 5.7% from January through September 2026.