In January this year the consumer price index at an annual rate in Azerbaijan was positive 0.2%. The rise in prices was mainly due to increase in cost of services, according to the State Statistics Committee.
In January of this year compared with the same month last year, food prices in Azerbaijan fell on average by 0.4%, non-food products rose by 0.2%, and services rendered to the population – by 0.8%.
In Baku and Sumgait consumer inflation on an annualized basis was 0.9%, and in the Absheron region the Statistical Office recorded a price increase of 5.3%. The residents of the Absheron district felt the rise in food prices at 9.4%, while in Baku food products increased by 1.5%. -08D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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