Economic Research Center says annual inflation rate hits 29.2% in Azerbaijan

Gubad Ibadoghlu, Chair of the Economic Research Center, said that the price hike was 1.17 percent in foodstuffs, 0.76 percent in nonfoods and 0.96 percent in services.

Inflation rate rose 16.76 percent for January-August and 29.20 percent from a year earlier.

The highest price hike was seen in Sheki (2.85 percent) and the lowest in Narimanov District of Baku (0.40 percent).

The USAID’s Alternative Inflation Methodology Development in Azerbaijan Program was launched in 2007. The program is now supported by the Open Society Institute – Budapest.

/APA/