Core inflation in Azerbaijan is 5.4 percent in 2011

Business Materials 22 January 2012 13:43 (UTC +04:00)

Azerbaijan, Baku, Jan.22 /Trend I.Khalilova/

Prices for consumer goods and tariffs for services in Azerbaijan increased by 0.9 percent on Dec. 2011 compared to Nov. 2011; and inflation amounted to 7.9 percent in 2011 compared to 2010, the State Statistics Committee told Trend on Saturday.
Prices for food products increased by 1.5 percent, prices for non-food products increased by 0.1 percent, and tariffs for services by 0.6 percent on December 2011.
As compared to 2010, prices for foods increased by 10.4 percent, prices for non-food products increased by 2.6 percent, and tariffs for services increased by 4.7 percent.
The basic consumer prices index calculated with fruit and vegetables prices and state-regulated prices excluded increased by 0.2 percent on December 2011 compared to the previous month and grew by 5.4 percent during the year.
Core inflation is that part of inflation that is more closely associated with indicators of monetary and not exposed to unstable factors, including seasonal and administrative impact on the pricing of public authorities. Core inflation is a key landmark in the implementation of monetary policy. In some countries the central banks themselves calculates core consumer price index.