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Alternative inflation in Azerbaijan hits 6.82%

Business Materials 14 January 2011 17:49
According to the NGO 'Center for Economic Research', the inflation rate in Azerbaijan amounted to 2.09 percent in December. Consumer prices in Baku last month increased by 2.83 percent, 1.36 percent - in the regions of the country, the NGO said.
Alternative inflation in Azerbaijan hits 6.82%

Azerbaijan, Baku, Jan. 14 / Trend U.Ismayilova /

According to the NGO 'Center for Economic Research', the inflation rate in Azerbaijan amounted to 2.09 percent in December. Consumer prices in Baku last month increased by 2.83 percent, 1.36 percent - in the regions of the country, the NGO said.

Inflation in the country hit 6.82 9.16 percent in 2010.

Summary table for price changes:

November/December

2010

December 2010 /

December 2009

January-December 2010/ January-December 2009

Food and services

+ 2.09

+11.45

+ 6.82

Food, drinks and tobacco

+3.49

+20.25

+ 10.01

Nonfoods

+0. 58

+ 2.01

+0.12

Services

+0.29

+1.20

+ 7.05

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

+2.83

+4.71

+ 0.93

+0.28

Regions

+1.36

+2.30

+0.23

+0.29

According to a report in December, the largest price increase among foodstuffs was observed on greenhouse cucumbers - 87.38 percent, tomatoes - 35.51 percent, dried fruit - 31.68 percent, carrots - 23.33 percent and lemons - 12.08 percent.

A significant decline in prices was observed in buckwheat - 16.5 percent, wheat flour - 6.27 percent.

Among non-food items price of laminate flooring fell by 9.09 percent.

According to the Azerbaijani State Statistics Committee, in December inflation was 5.7 percent.

According to the non-governmental organization, living wage for the working-age population was 160.66 manat in, pensioners - 146.16 manat, children under 14 - 199.39 manat.

In December, the minimal cost of working-age population for food products amounted to 100.74 manat, pensioners - 91.1 manat, children under 14 - 114.36 manat.

The minimal cost of non-food for the working-age population was 34.82 manat, pensioners - 32.8 manat, children under 14 - 67.56 manat. Costs for services amounted to 25.1 manat, 22.26 manat and 17.47 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.

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).

The official exchange rate is 0.7974 manat to $1 Jan. 14.

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