U.S. Technical Assistance Project to help calculate and minimize inflation in Azerbaijan

USAID's Alternative Inflation Methodology Development in Azerbaijan program is aimed at assessing the current inflation calculation methodology, determining the most appropriate method(s) of core inflation calculation for Azerbaijan and developing alternative inflation calculation methods. The framework of the project also focuses on statistical observation of prices in the country.

During the event the participants will familiarize with four main components: 1) To prepare and develop an alternative method for calculating the inflation rate in Azerbaijan; 2) To estimate the current inflation rate based surveys throughout the country; 3) To support the government's current anti-inflation policy; and 4) To assess the affects of oil revenues on the real inflation rate.

Within the scope of the project, meetings have been held with representatives of Cabinet of Ministers, Ministry of Economic Development, Ministry of Social and Labor Protection, Ministry of Finance, Ministry of Taxes, and State Statistics Committee. Also, members of the Milli Majlis, experts of the National Bank of Azerbaijan, World Bank and International Monetary Fund have been informed about the project and cooperation issues have been discussed, USAID Office in Baku told APA.