ASSA-Irada,
14, March 2008

Prices have risen 15.7% in Azerbaijan in the past year, the State Statistics Committee said.

Food prices have gone up the most - 20.3%, while prices for other goods increased 9.5%, and fees on services 10.3%.

According to the committee, prices increased 2.2% in February. Food prices became 3.5% more expensive, while those on other commodities and fees rose by less than 1%. Analysts link the increases with monopolies in the domestic market, along with seasonal factors.

Prices are expected to keep going up over the Novruz Holiday that will last from March 20 till March 28.

The State Anti-Monopoly Service has confirmed that the prices are artificially raised ahead of the holidays. Its head Samir Dadashov said some speculators take advantage of the higher demand for food and raise prices for no reason.

He added that the Service would step up control over local markets to counter artificial price hikes ahead of the spring holidays.