Azeri govt ups 2011 inflation forecast to 8 pct
Inflation in Azerbaijan is expected to make up 8 percent as of the end of 2011, the State Statistics Committee chairman has said.
Arif Valiyev told the press Wednesday that the recent increases in public sector employees’ wages and utilities will have an impact on the inflation level. Thus, the forecast on inflation has increased to 8 percent from the previous 6.7 percent, he said.
Valiyev said that in January-October 2011 domestic prices rose 8.3 percent in comparison with the same period of 2010. Prices for food increased 11.1 percent and those for other goods – 2.7 percent, and fees on services 4.6 percent.
President Ilham Aliyev ordered last week to increase the minimum wage in Azerbaijan by 10 percent to 93.5 manats (around $120). The president has also enacted decrees to increase by 10 percent the monthly salaries of employees of budget-funded health, cultural and educational institutions, except higher schools.
A number of utility fees, including those on heating and garbage disposal, were increased from December 1, according to a decision of the Tariff Council, the country’s body in charge of pricing.
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