Finance

Finance

Economic Research Center: Azerbaijan logs 0.56% inflation in 2009

08 January 2010 14:19 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Consumer Price Index rose by 0.93 percent in Azerbaijan, including 1.54 percent in Baku and 0.33 percent in regions during December, according to the Economic Research Centerâ€™s report based on the Alternative Inflation Methodology Development Project.

The report is based on surveys on goods and services in 11 regions of the country.

Prices of foodstuffs went up by 1.72% (2.76% in Baku and 0.71% in regions) while nonfoods rose by 0.10% (+ 0.27% in Baku and -0.06% in regions). Prices of services dropped by 0.11% (0.06% in Baku and 0.16% in regions) in December.

According to statistics, the consumer prices change was 0.56% inflation for the full year of 2009 with 2.67% inflation in Baku and 1.50% deflation in regions. The highest rise (9.59%) was in the prices of services although prices of nonfoods and foodstuffs declined by 3.18% and 0.97% respectively.