https://doi.org/10.36719/2663-4619/110/49-56
Tural Badalov
Baku Engineering University
Master student
https://orcid.org/0009-0006-3451-399X
Measurement of Inflation: Comparison of Georgia and Azerbaijan
Abstract
Inflation is one of the most critical indicators for economic sustainability and societal well-being. This is because its impact is directly felt by households in their daily expenses and by the private sector in production and sales. Inflation significantly influences people's quality of life, debt levels, and consumer behavior. It is a well-known fact that economic agents are consistently concerned about the rapid rise of inflation. In this regard, the accurate measurement and comparability of inflation are of utmost importance. This study focuses on measuring inflation in two countries of the South Caucasus — Azerbaijan and Georgia—by applying international standards and analyzing methodological differences. It provides insights into the international standards, indices, and formulas used for inflation measurement, while highlighting key differences between the two countries. The findings of this research can enhance the understanding of inflation measurement mechanisms in Azerbaijan and Georgia and support the development of more effective economic policies.
Keywords: coicop, ecoicop, hicp