From January to February 2006 the increase of the prices comprised approximately 5.7% as compared 2005, Trend reports quoting Heydar Babayev, the Azerbaijani Minister of Economic Development, as saying at the Milli Majlis [Parliament].
He explained it with existence of several factors. It is mainly related to rise in prices of the products, produced at world markets. The Minister noted that though Brazil was a leader on sugar production in the world, sugar price also increased in this country.
The Minister said that the rise in prices was related to objective and subjective reasons. According to Babayev, the objective reason for increase of prices is reduction of requirement for poultry due to bird flu. Requirement for poultry and beef products entailed increase of prices< he stressed. The subjective reasons of the inflations are opening of new jobs and increase of incomes. Touching upon taking of necessary measures by the government and the National bank of Azerbaijan take necessary measures to prevent rise in prices, Babayev noted that they also worked on keeping inflation in one-digit level in 2006.