"60% of inflation caused by import in Azerbaijan"

The main reason for price rise on the consumer market of Azerbaijan is the rise in oil prices on world markets, said a member of the Azerbaijan Parliament's standing committee on economic policy Vahid Ahmedov.

"Rise in oil price is the most important factor that leads to an increase in consumer prices," said Ahmedov.

According to him, in assessing the features of the internal market, it needs to definitely consider the fact that the country imports a large volume of food and 60% of inflation in the country is caused by imports.

Another reason for rise in prices is subjective factors - artificially inflated prices by some entrepreneurs, he said.

"I think that all the relevant agencies should take serious measures to prevent artificial price increase," said Ahmedov.

According to State Statistics Committee of Azerbaijan, consumer prices and tariffs for services increased by 0.8% in January 2011 compared to December 2010, 8.3% as compared with January 2010.


/Trend/