Bank Of Baku

Ogtay Hagverdiyev: Inflation rate increase by 2-3% due to strengthened manat

Ogtay Hagverdiyev: Inflation rate increase by 2-3% due to strengthened manat
# 16 November 2006 15:43 (UTC +04:00)
Between 2% and 3% of the 7.7% inflation rate in Azerbaijan resulted from the strengthening of AZN, the Cabinet finance and credit department chief Ogtay Hagverdiyev told APA.
He said the two-digit inflation appears in the foodstuffs market, making up 12%.
“Price rise in the world market affects the market of Azerbaijan. Monetary influence is 45%. Monopoly is also influential,� he said. /APA/
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