Annual Inflation 2.3%

Between January and October of this year, consumer price inflation in the country made at an annual rate 2.3%, up 1% point increase over the comparable period in 2012. Turan was told at the State Statistics Committee. Experts predict a double-digit inflation for next year.

According to official estimates, on an annualized basis, food prices rose in January -October 2013 by 2.2%. Non-food prices rose by only 0.5 %. Service providers increased their rates by 3.4 %.

Alternative Calculation of Inflation in Azerbaijan by the civil society was not conducted this year. Therefore, experts, comparing the prices of goods, noted that after a slight increase in wages of employees of budgetary institutions from September this year, the prices significantly increased.

The government is preparing to raise prices and tariffs for energy, utility and communications services. This will seriously affect the consumer market. Therefore, it is expected that the annual inflation rate for 2014 will amount to no less than 10 % and not 3.5% as the government predicts. -08D-

 

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