The Government headed by President Ilham Aliyev released statistics on the rate of inflation for the year 2012, according to which consumer prices rose by only 1.1%. Independent estimates of the dynamics of the consumer market showed an increase in prices in 9 times.
According to the State Statistics Committee (SSC), in 2012, food prices rose by 0.8%, non-food products - 1%, services - 1.2%. Studies conducted by NGO "Center for Economic Research" (CER) found that the real growth in consumer prices amounted to 18.15%, 3.37% and 5.47%. Total for the Center, inflation in 2012 was 9.92%.
State Statistics Committee reports that in December, food prices rose by 1.3%, while CER saw inflation at 5.85%. For SSС the price of non-food goods and services was stable on average, whereas the alternative monitoring revealed inflation at respectively 0.49% and 0.28%.
The annual inflation rate is necessary for the insurance part of labor pensions. - 08B-
Economics
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