Heydar Babayev: "It is not correct to calculate inflation rate on the basis of several products and goods"

Heydar Babayev added that domestic price hike is natural but seasonal when demand increases on holidays.

“Our principal objective is to prevent artificial price rise,” he added.

As to the inflation rate, Azeri minister blamed some experts for miscalculating inflation and releasing false figures.

“Price of bread loaf rose 50% in Portugal but that is not say the inflation level is 50% in that country. It is not correct to calculate inflation rate on the basis of several products and goods,” he underlined.

According to the IMF’s outlook, inflation rate is expected at 20% for Azerbaijan in 2008 and will gradually fall to one-digit level in 2-5 years.

/APA/