Azerbaijan Monthly Inflation Eases to 4-Month Low

Azerbaijan's monthly inflation rate ticked down to 0.5% in March 2026, the lowest since November 2025, from 0.6% in the preceding month. Prices cooled down for both food, alcoholic beverages and tobacco products (1% vs 1.1% in February) and non-food products (0.2% vs 0.3%). Meanwhile, services inflation stood at 0.2%, unchanged from the prior month. On a yearly basis, prices rose by 5.6%, down slightly from a 5.7% advance in the previous month.

Azerbaijan's monthly inflation rate sharply slowed to 0.6% in February 2026 from an over three-year high of 1.5% in January. Price growth moderated for food, alcoholic beverages and tobacco products (1.1% vs 1.3% in January), as declines in the prices of mutton, eggs, oranges, chestnuts, white cabbage, and onions partly capped the increase. Non-food product inflation also slowed to 0.3% from 1.3%, mainly due to lower costs of winter clothing, wallpaper, plastic pipes, and sawn wood. Price growth for paid services moderated sharply to 0.2% from 1.9%, weighed by declines in the costs of air passenger transportation to CIS countries and leisure tours. On a yearly basis, consumer prices increased by 5.7% in February, matching the annual inflation rate recorded in January.

Azerbaijan's monthly inflation rate picked up to 1.5% in January 2026, the highest level since February 2023, from 0.8% in the preceding month. Prices accelerated for services (1.9% vs 0.3% in December) and non-food products (1.3% vs 0.2%), whereas food price growth eased slightly (1.3% vs 1.4%). On a yearly basis, inflation accelerated to 5.7% from 5.2% in the previous month.