Azerbaijan expects 8-percent inflation rate in 2012

Recent wage raise of public sector workers and public utilities tariffs will affect the inflation rate in Azerbaijan, Chairman of the State Committee on statistics Arif Veliyev told journalists on Tuesday.

"We predicted the inflation rate at 6.7 percent in 2011, but now we expect the rate at 8 percent," said Veliyev. Over 10 months inflation in Azerbaijan accounted for 8.3 percent. Prices for food commodities increased by 11.1 percent, nonfoods by 2.7 percent, and service tariffs by 4.6 percent.

Inflation in Azerbaijan made up 1.1 percent in November. Food commodities rose in price by 1.9 percent compared to last month, nonfoods by 0.4 percent, and tariffs for paid services by 0.1 percent.

The living wage was increased from 85 manat to 93.5 manat under the presidential order issued late last month. This week wages of education and public health spheres' workers were increased by 10 percent.


/Trend/