Prices up 16% in 2007
In September alone, a 1.1% increase was observed, the State
Statistics Committee chairman Arif Valiyev told a press conference
Monday.
He explained rising inflation with the hike in prices for energy early this year. He said that if the prices for electricity and gasoline had not been raised, inflation would most likely not have exceeded single digits, a projection cited earlier by government experts.
The country's pricing regulator, the Tariff Council, on January 6 raised the prices on gasoline by some 50%, while those on other types of fuel - by 25% and electricity three-fold.
The committee chairman said inflation could make up 16.3% by the year-end. He noted that no increase in energy prices is anticipated in 2008, which is grounds to say that the figure will not be over 10% next year.
Valiyev went on to say that citizens' income rose 40% in the first nine months of 2007 to over 9.115 billion manats ($10.723 billion). The average wage increased 28.2% to 178 manats ($230).
He explained rising inflation with the hike in prices for energy early this year. He said that if the prices for electricity and gasoline had not been raised, inflation would most likely not have exceeded single digits, a projection cited earlier by government experts.
The country's pricing regulator, the Tariff Council, on January 6 raised the prices on gasoline by some 50%, while those on other types of fuel - by 25% and electricity three-fold.
The committee chairman said inflation could make up 16.3% by the year-end. He noted that no increase in energy prices is anticipated in 2008, which is grounds to say that the figure will not be over 10% next year.
Valiyev went on to say that citizens' income rose 40% in the first nine months of 2007 to over 9.115 billion manats ($10.723 billion). The average wage increased 28.2% to 178 manats ($230).
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