Azerbaijan’s Inflation to Exceed 20% by End of 2008: Statistical Committee

Business Materials 2 August 2008 10:45 (UTC +04:00)

Azerbaijan, Baku, 2 August / Trend corr. E.Ismayilov/ Inflation rate in Azerbaijan will amount to about 22-23% by the end of the year, head of the State Statistical Committee Arif Valiyev said on 2 August.

According to the National Bank of Azerbaijan, inflation in the country totalled 20.2% in June 2008, while in May 2008 the figure was 19.2%.

Azerbaijan's Economic Development Ministry forecasts the inflation to comprise up to 13% in 2008. The June inflation exceeded the forecasts by 7.2%.

International Monetary Fund forecasts the average annual inflation in Azerbaijan to comprise 19.6% in 2008 and 22% by the end of the year.

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