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Inflation hits 0.56 percent in Azerbaijan: NGO

Business Materials 11 January 2010 17:37 (UTC +04:00)
As of December, 2009 inflation in Azerbaijan made up 0.93 percent, Non-Governmental Organization Economic Studies Center Board Chairman Gubad Ibadoglu said.
Inflation hits 0.56 percent in Azerbaijan: NGO

Azerbaijan, Baku, Jan. 11 / Trend U.Ismayilova /

As of December, 2009 inflation in Azerbaijan made up 0.93 percent, Non-Governmental Organization Economic Studies Center Board Chairman Gubad Ibadoglu said.

"The prices for consumer goods in Baku increased by four times or 1.54 percent as compared to the 0.33 percent in the regions," Ibadoglu said

According to Gubadoglu, during the month the most significant increase in consumer prices was observed for foodstuffs - 1.72 percent including 2.76 percent in Baku and 0.71 percent in the regions. Prices for non-foodstuffs increased by 0.1 percent including 0.27 percent in Baku and decreased by 0.06 percent in the regions. Service field decreased by 0.11percent including 0.06 in Baku and 0.16 percent in the county's regions

According to NGO's calculations, as of 2009, 0.56-percent inflation was observed in Azerbaijan including 2.67 percent in Baku and 1.5 percent deflation was observed in the regions

"The most significant price rise occurred in a service field in Azerbaijan - by 9.59 percent in connection with an increase in consumer gas prices and the metro passage last year. Prices for non-consumer goods decreased by 3.18 percent and for consumer goods 0.97 percent in 2009," Ibadoglu said

According to Idadoglu, as of December 2009 subsistence wage hit 139.62 manat per person including 131.47 manat for able pew people, 121.97 for retirees, and 165.44 manat for children under 15 years old.

As of December 2009 minimum expenditure for consumer goods for operational part of the population hit 75.5 manat, retirees -71.66 manat and children under 15 year-old - 88.72 manat. Minimum expenditure for non-consumer goods for operational part of the population hit 30.67 manat, 27.93 manat and 59.16 manat in December, 2009. Minimum cost in a service field made up 25.3 percent, 22.38 percent and 17.56 manat, respectively    

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