Inflation rates by country and year

-10.6%-2.8%5.1%13%20.8%411.8%1,662.2%
-10.6%-2.8%5.1%13%20.8%411.8%1,662.2%
1992-10.6%
200820.8%
20255.6%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate5.6%

Behind the curve

Turning points in Azerbaijan

  1. 1994↑ Upward pressure

    The manat's early years — Wikipedia (opens in a new tab)

    In 1994, Azerbaijan's price dynamics acquired the characteristics of hyperinflation during the post-Soviet transition. The manat became sole legal tender in January that year amid a breakdown of monetary and fiscal stability.

    IMF Country Report 95/119 · Azerbaijan: Recent Economic Developments
  2. 1999↓ Downward pressure

    Tight policy and low oil prices — Wikipedia (opens in a new tab)

    Azerbaijan's firm financial policies curbed inflation through 1998 and early 1999. IMF staff also identified lower oil prices as contributing to the emerging deflationary trend, even as regional devaluations weighed on the economy.

    IMF Country Report 99/78 · Azerbaijan: 1999 Article IV Consultation
  3. 2015↑ Upward pressure

    The manat's devaluation — Wikipedia (opens in a new tab)

    Lower oil prices and weak regional demand undermined Azerbaijan's external position in 2015. Two manat devaluations totalled about 50%, and their pass-through particularly raised tradable-food inflation despite weak domestic demand.

    IMF Country Report 16/296 · Azerbaijan: 2016 Article IV Consultation
  4. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    In 2022, imported food-price inflation, regulated fuel and water tariff adjustments, and stronger non-oil consumption made Azerbaijan's CPI increase broad-based. High oil and gas prices strengthened the external balance but did not prevent consumer inflation.

    IMF · Azerbaijan: Staff Concluding Statement of the 2022 Article IV Mission

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Azerbaijan?

The annual inflation rate in Azerbaijan was 5.6% in 2025, the most recent year in the World Bank dataset. That means prices rose 5.6% on average compared with the year before. Use the chart above to explore Azerbaijan's full inflation history from 1992 to 2025, and to compare it with any other country.

How inflation in Azerbaijan has changed

Inflation in Azerbaijan peaked at 1662.2% in 1994 and reached its lowest point at -10.6% in 1992. Averaged across the 34 years of available data (1992–2025), the rate has been 99.1% per year.

Frequently asked questions about inflation in Azerbaijan

What is the current inflation rate in Azerbaijan?

The latest available annual figure is 5.6% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Azerbaijan's statistical office.

What was the highest inflation rate in Azerbaijan?

The highest annual inflation rate on record is 1662.2%, reached in 1994.

What was the lowest inflation rate in Azerbaijan?

The lowest annual inflation rate on record is -10.6%, recorded in 1992.

Where does the inflation data for Azerbaijan come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.