OREANDA-NEWS. January 22, 2010. The State Statistics Committee informs that for 2009 consumer inflation in Azerbaijan made up 1.5% against the 2008 same term. In January 2008 year-on-year inflation was 11.9%.

Compared to November, in December it was registered inflation of 0.8%. In January deflation totaled 0.6% versus December 2008, in February 0.8% versus January, in March 0.7% versus February, in April 0.2% versus May and on June 0.6% versus May, in July 0.8% versus June, in August 0.1% versus to July, in September 0.4% versus August, in October 0.4% versus to September, in November 1.3% versus October.

As a result, inflation for 2009 reached only 0.7% as of 1st January 2010. Under the governmental forecast, in 2009 inflation was expected to be 13%. In 2008 inflation made 20.8%. In December 2008 it was registered deflation of 0.4%.

Growth of wholesale industrial price index in December 2009 totaled 0.3% versus November when its rise was 5.5% against October.

In January 2009 index declined by 0.9% versus December 2008.

Thus, rise in industrial prices in 2009 was equivalent to 49.2%.

Drop of wholesale industrial prices for 2009 compared to the 2008 same term made 19.2% against 23.5% for Jan-Nov 2009. The forecast for 2009 envisaged 19.8% decline of wholesale prices.

In December 2008 index of wholesale prices dropped by 17.5% and for 2008 by 11.6%.

In December 2009 food prices rose by 1.4% compared to November when they grew by 1.4% against October 2009.

Accumulated decline of these prices for 2009 made 3%. Over 2009 growth of these prices reached 1.5% to the level of 2008. The 2009 prices for farm products rose by 0.3% against 2008. In December these prices rose by 1% versus November 2009 when they grew by 1% against October 2009. This year accumulated farm price drop made 4.6%.

Data concerning money turnover for 2009 was not published, but for Jan-Jun the Central Bank of Azerbaijan put into circulation AZN 8.3 bn and AZN 9.05 bn returned to banks’ cash offices.

Thus, in 2009 it was directed AZN 699.8 million to the reserve fund.

Average exchange rate for 2009 totaled AZN 0.8 to the US dollar.