Inflation Azerbaijan 2024
Average inflation: 2.2%
Current Inflation
Inflation is normal at 2.2%, around the ECB target.
Peak and Trough
The highest inflation was in December at 4.9%. The lowest inflation was in April at 0.0%.
- Highest month
- December: 4.9%
- Lowest month
- April: 0.0%
- Difference
- 4.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 1.6%. The lowest price increase was in Food with an average of 1.1%.
- Highest increase
- Energy: 1.6%
- Lowest increase
- Food: 1.1%
Historical Context
Current inflation is 4.7% lower than the 5-year average of 6.9%.
- 5-year average
- 6.9%
- 10-year average
- 6.9%
- All-time high (2008)
- 20.9%
- All-time low (2012)
- 1.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +6.7 percentage point.
- Change vs. previous year
- -6.7 percentage points
- Largest monthly swing
- February: -13.3 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.7% | -11.9 |
| February | 0.8% | -13.3 |
| March | 0.4% | -13.2 |
| April | 0.0% | -12.8 |
| May | 0.3% | -11.2 |
| June | 1.1% | -9.5 |
| July | 2.7% | -6.7 |
| August | 3.5% | -4.5 |
| September | 3.5% | -1.6 |
| October | 3.4% | -0.5 |
| November | 4.4% | +1.8 |
| December | 4.9% | +2.8 |
| Average | 2.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.