NGO calculates inflation rate in Azerbaijan

NGO calculates inflation rate in Azerbaijan

Azerbaijan, Baku, August 13 / Trend N. Ismayilova /

According to the NGO 'Center for Economic Research', the inflation rate in Azerbaijan amounted to 0.29 percent in July. Consumer prices in Baku last month increased by 0.34 percent, 0.24 percent - in the regions of the country, the NGO said.

Inflation hit 1.77 percent in July compared to December, and 5.55 percent compared to the same month last year.

Summary table indicates a change in the consumer price index:

July/June

2010

July 2010 /

December 2009

January-July 2010/

January-July 2009

food and services

+0,29

+1,77

+5,60

food, drinks and tobacco

+0,51

+3,19

+6,97

nonfoods

-0,06

- 0,23

-0,78

services

+0,16

+0,50

+9,94

Summary table indicates a change in the consumer price index in the capital and regions of the country:

Goods and services

food

nonfoods

services

Baku

+0,34

+0,69

- 0,28

+0,18

regions

+0,24

+0,32

+0,16

+0,15

Prices increased for tomatoes (11.14 percent), carrots (4,99 percent), rice (2.06 percent), beef (1.98 percent), among the services - air transport of passengers (1.84 percent).

Food cheapened, namely peaches (22.92 percent), grapes (22.2 percent), melon (18.38 percent), potatoes (10.99 percent), and non-food products - laminate flooring (4 percent).

According to the non-governmental organization, living wage for the working-age population was 124.62 manat in July, pensioners - 111.43 manat, children under 14 - 138.41 manat.

In July, the minimal cost of working-age population for food products amounted to 64.07 manat, pensioners - 57.39 manat, children under 14 - 71.21 manat.

The minimal cost of non-food for the working-age population was 34.89 manat, pensioners - 31,21 manat, children under 14 - 49.74 manat.

Costs for services amounted to 25.66 manat, 22.83 manat and 17.46 manat respectively.

According to official statistics, the level of minimal subsistence level is fixed at 87 manat in 2010, for working-age population - 96 manat, pensioners - 68 manat, children under 14 - 72 manat.

According to the Azerbaijani State Statistics Committee, in July prices for consumer goods and tariffs for services in Azerbaijan reduced by 0.2 percent compared to the previous month. Inflation was 4.9 percent for seven months compared to January-July of the last year. Prices for food reduced by 0,7 percent, tariffs for paid services rendered to the population, increased by 0.9 percent, while prices for nonfood remained unchanged in relation to the last month.

These estimates are based on the statistical surveys conducted by NGO in 22 regions of the country during July, as part of "The level of alternative inflation and development of model", funded by the State Secretariat for Economic Affairs of Switzerland (Seco).

On August 13, the official exchange rate is 0.8037 manat to $1.

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