Inflation Rate in Azerbaijan to Increase by End of Year
Azerbaijan, Baku / Trend corr U. Ismaylova / The head of the Economic Research Centre, Gubad Ibadoghlu, reported on 19 April that the rate of inflation in Azerbaijan would increase by 25% by the end of 2007, taking into consideration a 16% increase in the first quarter of the year.
Money turnover, increase in the Manat's exchange-rate, a rise in the demand in the non-economic sector, and a hike in expenditures may all cause inflation.
Eyub Huseynov, the chairman of the Free Consumers Union of Azerbaijan, stated that the inflation will noticeably increase by the end of the year due to the rise in prices at the markets.
According to the report of the joint monitoring held by the Economic Research Centre and USAID, the rise in prices in Azerbaijan comprised of 27.91% for services, 16.98% for food, and 11.83% for non-foods in the first quarter of 2007.