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2007 inflation rate will reach 20% in Azerbaijan, says Economic Research Center

16 August 2007 10:39 (UTC +04:00)

The ERC Chairman Gubad Ibadoghlu said the results are based on the USAIDâ€™s Alternative Inflation Methodology Development in Azerbaijan Program aimed at assessing the current inflation calculation methodology, determining the most appropriate methods of core inflation calculation for Azerbaijan and developing alternative inflation calculation methods.
He added that they have sent recommendations, monthly, quarterly and semiannual statistics to the government agencies to contribute to the government measures to curb inflation.
USAID economist Paul Davis noted that alternative inflation methodology is very important and brings the inflation policy into the focus of attention. He added that use of foreign experience and regular monitoring will provide levers to rein inflation tendency.
Started since last November, USAID-funded Alternative Inflation Methodology Development Project includes four main components: 1) To prepare and develop an alternative method for calculating the inflation rate in Azerbaijan; 2) To estimate the current inflation rate based surveys throughout the country; 3) To support the governmentâ€™s current anti-inflation policy; and 4) To assess the affects of oil revenues on the real inflation rate. /APA-Economics/