Azerbaijan, Baku, April 23 / Trend A. Akhundov /
The Azerbaijani State Statistics Committee has forecasted a three to four per cent inflation rate as of 2012, committee chairman Arif Valiyev told media today.
In 2011, the consumer price index increased by 7.9 per cent, whilst in 2010 by 5.7 per cent.
"The macro-economic indices reflecting socio-economic development of the country increased in the first quarter of 2012," he said. "The amount of pensions and population income increased whilst inflation remained at a minimal level." He added that inflation hit 3.1 per cent in the first quarter of this year.
GDP in the first quarter increased by 0.5 per cent and reached 12.3 billion manat. GDP per capita in the reporting period amounted to 1.346.1 manat, or $1.711.9, he said.
He said that GDP in the non-oil sector increased by 7.7 per cent and dropped by 4.7 per cent in the oil sector.