Single-digit inflation trend in Azerbaijan
Single-digit inflation - 3.3% - has been posted in
Azerbaijan this year, according to the Central Bank.
Elman Rustamov, who chairs the bank`s steering board, also said deflation had reached an alarming level in the country in early 2009. The trend of falling prices worried the government, as it is detrimental for the economy despite its being favorable for consumers.
``In the conditions of deflation, profitability goes down as well. But we are now beginning to come out of the deflation curve. Prices edged up in July, and this process, most likely, continued in August,`` Rustamov concluded.
Elman Rustamov, who chairs the bank`s steering board, also said deflation had reached an alarming level in the country in early 2009. The trend of falling prices worried the government, as it is detrimental for the economy despite its being favorable for consumers.
``In the conditions of deflation, profitability goes down as well. But we are now beginning to come out of the deflation curve. Prices edged up in July, and this process, most likely, continued in August,`` Rustamov concluded.
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