Inflation doubled in six years
Inflation in Azerbaijan has surged 200% in the last
six years, Sevinj Hasanova, Deputy Minister of Economic Development
told a session of the Milli Majlis (parliament) Friday.
She said the calculations were based upon official data from the State Statistics Committee.
The rate of inflation is taken into consideration when calculating the minimum subsistence level for individuals and families. The deputy minister said the subsistence rate in 2002 was 35 manats ($43) and has now reached 84 manats ($103), an increase of 240%. "This illustrates that the suggestions that the rising subsistence minimum does not cover inflation are unfounded."
She said the calculations were based upon official data from the State Statistics Committee.
The rate of inflation is taken into consideration when calculating the minimum subsistence level for individuals and families. The deputy minister said the subsistence rate in 2002 was 35 manats ($43) and has now reached 84 manats ($103), an increase of 240%. "This illustrates that the suggestions that the rising subsistence minimum does not cover inflation are unfounded."
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