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High inflation continues in Azerbaijan

By M. Alkhazashvili
(Translated by Diana Dundua)
Thursday, February 21
Inflation in Azerbaijan was 2.64 percent this January, down from 6.4 percent in January 2007, according to Gubad Ibadoglu, who heads the Economic Research Center NGO in Azerbaijan.

Based on January’s figures, Ibadoglu doubts that total inflation in 2008 will be below two digits, the news agency Trend reports.

Last year, the Economic Research Center recorded inflation at 28.97 percent, well above the official figure of 16.7 percent.