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Deputy President of Azerbaijan National Bank: 15-16% Consumer Inflation is Expected to Occur in 2007 (video)

Business Materials 10 August 2007 16:51 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khaliova / The National Bank of Azerbaijan (NBA) expects basic inflation to remain at a one-digit level by the end of 2007. According to the NBA's Deputy President, Aftandil Babayev, basic inflation remained at 9% in January-July.

However, consumer inflation is expected to amount to 15 -16%, what is proved by the current prices growth rate. Babayev considers the effect of the season factor upon the rise of inflation this year to be most acceptable in June-July 2006.

According to the Azerbaijani Statistics Committee, a rise in prices for consumer goods made up 0.1% in July compared to June. Prices for foodstuff increased by 0.1%, and non-foods by 0.3%.

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