The Centre for Economic Research has launched the implementation of an alternative project on counting the index of consumer prices in Azerbaijan under the financial support of USAID (United States Agency for International Development, Gubad Ibadoghli, the Head of the Centre, said today during a meeting between leading independent economists and representatives of mass media, which was arranged by the Centre, Trend reports.
It is the State Statistics Committee which officially counts the inflation rate in the country. According to him, monitoring of prices has already been launched in the country. Its results will be made public and submitted to the Azerbaijan Government, quarterly and over the first six months.
We believe that this will enable to increase the responsibility of the Government of the Country, and that it will be very important at making timely decisions by the population and business structures, noted Mr. Ibadoghli.
Taking into consideration the international experience, the regulation of prices is mainly carried out in three ways. The matter concerns the prices on energy carriers. The foremost way is some countries' regulating prices through taxation and using excise rates. These countries groped the prices and the results of researches showed that the price of diesel fuel varied from 65 to 120 cents.
In other countries where prices are regulated according to lesser tax rates, prices are varied between 40-63 cents. For example, USA is one of these countries where one liter of petrol costs at least 57 cents.
Azerbaijan's prices on diesel fuel and petrol exceed the prices in USA. Some countries, including Azerbaijan regulate prices by means of subsidies.
Vafa Mutallimova, a Docent of the Azerbaijan State Economic University, heads the research group.