Economic Research Center says Azerbaijan sees deflation for the first time in three years

Economic Research Center says Azerbaijan sees deflation for the first time in three years
# 10 December 2008 13:58 (UTC +04:00)
Baku. Elnur Huseynquluyev – APA-Economics. Consumer Price Index declined 1.88 percent in Azerbaijan, including 1.53 percent in Baku and 2.22 percent in regions during November, according to the Economic Research Center’s report based on the Alternative Inflation Methodology Development Project.
This is the first instance of deflation over the three years.
The report is based on surveys on goods and services in 11 regions of the country.
According to the report, the price fall was 3.07 percent in foodstuffs, 0.63 percent in nonfoods and 0.28 percent in services.
Inflation rate was 16.62 percent for January-November and 20.48 percent compared to a year ago.
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THE OPERATION IS BEING PERFORMED