TODAY.AZ / Business

Azerbaijan may raise 2008 inflation outlook

15 April 2008 [17:39] - TODAY.AZ
Azerbaijan’s prediction for inflation in 2008 could only be achieved unless consumer prices keep growing on the world market, said the country’s minister of economic development.
Heydar Babayev added that prices of rice rose 52% and wheat 82% over the past two months.

"Also, there is a hike in poultry and animal products. It is not right to get an annual prediction for inflation on the basis of a few months because the first quarter is never taken as a basis. The annual inflation outlook may be changed or left unchanged on the basis of the first half results", he added.

The Government of Azerbaijan predicts inflation at 12-13% for 2008 while IMF put its projects at 19.6% for 2008, 20.5% for 2009 and 19% for 2013.

Inflation stood at 16.7% in 2007.


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