Bank Of Baku

Consumer basket will beat AZN 100 in Azerbaijan by the year-end

Consumer basket will beat AZN 100 in Azerbaijan by the year-end
# 24 October 2007 13:03 (UTC +04:00)
The basket of consumer goods is predicted to reach AZN 100 per capita in Azerbaijan by the end of 2007, said Chingiz Tagiyev, Officer of Labor Unions Confederation.
He added that the consumer basket is calculated on the basis of the rules approved by the Cabinet of Ministers.
He said the consumer basket stood at AZN 96 as of October 1.
“The year-end prediction depends on inflation rate. If inflation stands at 16% the consumer basket will beat AZN 100,” he added.
He added that the 2008 consumer basket can’t be calculated now because of unknown prices of sample goods and services to be offered at the consumer market.
“However, it will be above AZN 100,” he implied. /APA-Economics/
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