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Economic Research Center says annual inflation hits 29.2% in Azerbaijan

09 September 2008 10:56 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. Consumer Price Index rose 1.02 percent in Azerbaijan, including 0.91 percent in Baku and 1.13 percent in regions during August, according to the Economic Research Centerâ€™s report based on the Alternative Inflation Methodology Development Project.
Gubad Ibadoghlu, Chair of the Economic Research Center, said that the price rise was 1.17 percent in foodstuffs, 0.76 percent in nonfoods and 0.96 percent in services.
Inflation rate rose 16.76 percent for January-August and 29.20 percent from a year earlier.
The highest price rise was seen in Sheki (2.85 percent) and the lowest in Narimanov District of Baku (0.40 percent).
The USAIDâ€™s Alternative Inflation Methodology Development in Azerbaijan Program was launched in 2007. The program is now supported by the Open Society Institute â€“ Budapest.