Azerbaijani Economic Research Centre Reports 30% Rise in Inflation Rate in Azerbaijan in 2007
Azerbaijan, Baku, 17 January / Trend corr. U.Ismaylova / The inflation rate totaled to 29% in Azerbaijan in 2007, 30.04% in Baku, and 27.58% in the regions, Gubad Ibadoglu, the head of the Economic Research Centre, said at the conference dedicated to the results of the Development of Alternative Inflation methodology.
According to Ibadoglu, the rise of consumer prices on foodstuff in 2007 made up 28.12%, nonfoods 21.81% and services 40.28%.
The inflation rate increased by 3.31% in December (in Baku - 3.56% and in regions - 2.98%), foodstuff - 3.81% (in Baku - 4.09% and in regions - 3.45%), nonfoods - 2.73% (in Baku - 2.98% and in regions 2.41%), services - 2.71% (in Baku - 2.91% and in regions - 2.46%).