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Inflation hit 5-7 percent in Azerbaijan: State Statistics Committee head

Business Materials 22 January 2010 15:16 (UTC +04:00)
In 2010 inflation ratio will exceed the index in 2009 (1.5 percent), but remain one-digit, Azerbaijani State Statistics Committee head Arif Veliyev said
Inflation hit 5-7 percent in Azerbaijan: State Statistics Committee head

Azerbaijan, Baku, Jan. 22. / Trend N. Ismayilova /

In 2010 inflation ratio will exceed the index in 2009 (1.5 percent), but remain one-digit, Azerbaijani State Statistics Committee head Arif Veliyev said

"It is difficult to forecast now, but approximate calculations show inflation rate will hit 5 -7 percent," Veliyev said

"Price increase will be achieved through the growth of food prices, which is very low now.

"Changes in the inflation rate should be associated both with the openness of the economy and independent policy of establishing prices for goods and services by private trade organizations," Veliyev said

In 2009, prices for consumer goods increased by 1.5 percent compared to 2008 and by 0.8 percent in December to 2008.

Prices for foodstuffs decreased by 1.5 percent, whereas increased non-foodstuffs by 3.4 percent and for services by 7.1 percent

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