Inflation reached 15% in 2008
The rate of inflation in Azerbaijan in 2008 was
15.41%, it has been announced.
According to the Economic Research Center (ERC), food prices rose by 19%, non-food items by 12.4% and services by 9.4% last year.
Starting in November, however, appreciation was replaced with a lowering in prices. In December, for instance, prices fell by 1%. Though some fruit and vegetables did rise in price last month due to seasonal factors, beef has become cheaper.
Another reason for the drop in price is the global economic crisis. The price reduction occurred due to the losses suffered by countries exporting their goods to Azerbaijan, noted ERC experts.
The ERC, led by economist Gubad Ibadoglu, is a non-governmental group carrying out economic projects.
According to the Economic Research Center (ERC), food prices rose by 19%, non-food items by 12.4% and services by 9.4% last year.
Starting in November, however, appreciation was replaced with a lowering in prices. In December, for instance, prices fell by 1%. Though some fruit and vegetables did rise in price last month due to seasonal factors, beef has become cheaper.
Another reason for the drop in price is the global economic crisis. The price reduction occurred due to the losses suffered by countries exporting their goods to Azerbaijan, noted ERC experts.
The ERC, led by economist Gubad Ibadoglu, is a non-governmental group carrying out economic projects.
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