TODAY.AZ / Business

Rate of inflation in Azerbaijan surges

17 February 2005 [09:14] - TODAY.AZ
Azerbaijan has faced yet another significant rise in cooperative Rate Of Inflation (ROI): the January level of ROI has climbed 11% as compared to the corresponding figure of 2004.
The State Statistics Committee reported a 22.5% rise in wholesales manufacturing prices since January 2004, whereas that went up 1.6% as compared to the corresponding performance as of December 1, 2004. For 2005, the Government expects the above indicator to rise 3% only.

Consumer Price Index (CPI) also rose, though the addition was a 'relieved' addition of 2.5%, which is almost half the figure the Government forecasts for the entire year. (Trend)

Prices of agricultural products rose 13.7% since January 2004, and 4% since last December.

In January, The Milli Bank (the central bank of Azerbaijan) put 2 trillion AZM of cash into circulation, while the 'return' constituted 2.26 trillion AZM; the remaining surplus of 205.5 billion AZM - according to the Milli Bank - has been remitted to the surplus fund.

URL: http://www.today.az/news/business/18562.html

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