Inflation in Azerbaijan to make 12.4% in 2012

The Economic Research Centre of Azerbaijan has unveiled the results of statistical studies of consumer price index for December 2011 on 10 regions of the country. The Centre reports that the survey has shown that the December’s CPI rose by 0.76% .Year-on-year inflation (against 2010) totaled 12.03%. “In December the prices grew by 1.08% in Baku and by 0.44% in the regions.
Year-on-year rise of prices made up 15.76% in Baku and 8.46% in regions. Last month the largest price increase was observed for food products – (+19.35%). Then follow non-food products (2.46%) and services (5.73%),” the Centre informed. In its forecasts for 2011 ERC expected rise of consumer price index (CPI) by only 11,2%. The Centre also reports that consumer inflation by 12,4% is expected in 2012 against 12.03% in 2011."
Highest inflation per months in 2012 will be recorded in March (+1,5%),and the lowest- in July (+0,1%)»,- the Centre supposes.