Armenia vs Azerbaijan: Inflation
Inflation in 2025: 3.3% a year in Armenia and 5.6% a year in Azerbaijan, by IMF estimates. In 2025 the value was higher in Azerbaijan, by 2.3 percentage points, or 1.69 times that in Armenia.
ArmeniaAzerbaijan
Watch it change on the map% a year · IMF
Latest figures
% a year · IMF
| Country | Latest | 10 years before | Rank in 2025 | Projected |
|---|---|---|---|---|
| Armenia | 3.3 2025 | 3.7 | 78 of 179 | 3 2031 |
| Azerbaijan | 5.6 2025 | 4 | 35 of 179 | 4 2031 |
What the numbers say
- Azerbaijan has been higher since 2022, when it overtook Armenia.
- In 2025, Armenia ranked 78 and Azerbaijan ranked 35 of 179 countries, counting from the highest.
- The IMF projection (World Economic Outlook, October 2026) puts Armenia at 3% a year and Azerbaijan at 4% a year in 2031.
Every year
% a year · IMF
| Year | Armenia | Azerbaijan |
|---|---|---|
| 2025 | 3.3 | 5.6 |
| 2024 | 0.3 | 2.2 |
| 2023 | 2 | 8.8 |
| 2022 | 8.6 | 13.9 |
| 2021 | 7.2 | 6.7 |
| 2020 | 1.2 | 2.8 |
| 2019 | 1.4 | 2.6 |
| 2018 | 2.5 | 2.3 |
| 2017 | 1 | 12.9 |
| 2016 | -1.4 | 12.5 |
| 2015 | 3.7 | 4 |
| 2014 | 3 | 1.4 |
| 2013 | 5.7 | 2.4 |
| 2012 | 2.5 | 1.1 |
| 2011 | 7.5 | 7.9 |
| 2010 | 8.2 | 5.7 |
| 2009 | 3.5 | 1.5 |
| 2008 | 9.1 | 20.8 |
| 2007 | 4.4 | 16.7 |
| 2006 | 2.9 | 8.3 |
| 2005 | 0.6 | 9.6 |
| 2004 | 6.9 | 6.7 |
| 2003 | 4.7 | 2.1 |
| 2002 | 1 | 2.7 |
| 2001 | 3.2 | -6 |
| 2000 | -0.8 | 1.8 |
| 1999 | 0.7 | -8.5 |
| 1998 | 8.7 | -0.8 |
| 1997 | 14 | 3.7 |
| 1996 | 18.7 | 19.8 |
| 1995 | 176.7 | 411.8 |
| 1994 | 5,273 | 1,664 |
| 1993 | 3,732 | 1,130 |
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Armenia | Azerbaijan |
|---|---|---|
| 2026 | 4.6 | 5.8 |
| 2027 | 3.6 | 5.6 |
| 2028 | 3.2 | 4.8 |
| 2029 | 3 | 4 |
| 2030 | 3 | 4 |
| 2031 | 3 | 4 |
Each country on its own
Good to know
- How much consumer prices rose in a year, on average.
- Source: IMF, World Economic Outlook, October 2026.
- The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
- Ranks count the 179 countries with a value in 2025, highest first.
How the layers work, where their data comes from and what they can’t tell you: Countries through time