According to S&P Global Ratings (S&P) forecasts, the average growth of consumer prices in Azerbaijan will increase by less than 4% in 2021-2024, APA-Economics reports citing the report of S&P Global Ratings on the Caucasus and Central Asia.

Inflationary pressures in 2021 driven by higher fuel and food prices, supply chain disruptions, and a stronger economic rebound, have prompted most regional central banks to start tightening their policies. S&P expects inflation to moderate in all sovereigns from 2022.

In 2021-2024, the lowest average inflation will be in Azerbaijan, and the highest inflation will be in Uzbekistan (more than 10% on average).

Source: Azeri-Press News Agency