In 2006 the growth rate of the cost of consumer goods and service tariffs made was up 8.3% as compared to 2005. The State Statistic Committee informed that in this period, the price of foodstuff increased by 11.9%, non-food products by 5.3% and service tariffs by 2.6%.
Head of the Price, Economic and Monetary Policy Department of the Cabinet of Ministers of Azerbaijan, Oktay Hagverdiyev, informed Trend that in 2007 the policy on maintenance of the growth rate of inflation should stay in single figures, or to be more exact at 9%.
It will be possible despite the recent rise in the price of energy resources and public utilities, he stated.
According to the State Statistics Committee, in December 2006 consumer price index rose 1.2% as compared to November and 11.4% as compared to December 2005. The price of consumer goods increased 2.8% and 16.1%, non-foodstuff products by 1.1% and 7.5%, in the service industry by 1.8% and 4.3% respectively.