Inflation in Azerbaijan

Azerbaijan Inflation | Economic News & Forecasts

Azerbaijan - Inflation

Economic activity was only modest in Q1, with a contraction now largely expected in Q2 due to the blow dealt by the coronavirus. Annual growth in January–March ebbed compared to January–February, as the non-oil segment took a hit in March due to the quarantine regime enforced by authorities to contain Covid-19’s spread. The collapse in oil prices in the same month also pummeled the hydrocarbons sector. Turning to Q2, in early April, the government announced an economic package amounting to AZN 2.5 billion (around 3.0% of GDP) consisting of tax relief measures, wage contributions and credit guarantees to cushion the blow of the pandemic. Meanwhile, on 1 May, the government announced that the partial lockdown measures would be extended until the end of the month. This, combined with depressed global crude prices persisting since the March shock and the OPEC+ agreement struck in mid-April to drastically slash production, are set to hammer both the non-oil and oil economy alike in Q2.

Azerbaijan - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)4.0  12.4  12.9  2.3  2.6  

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Azerbaijan Inflation Chart

Azerbaijan Inflation
Note: Inflation, annual variation of consumer price index (CPI) in % (aop).

Azerbaijan Facts

Value Change Date
Exchange Rate1.70-0.66 %Jan 01
Stock Market0.10.0 %Jan 07

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