Rate of inflation in Azerbaijan surges

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.