In 2014, consumer prices in Azerbaijan rose by an average of 1.4%, calculated in the State Statistical Committee.
In the past year, food prices rose by 1%, for non-food products – by 3.2% and for services – by 0.3%.
In December last year, inflation was 0.5%. Food became more expensive in comparison with November by 1.1% and services – by 0.1%. Non-food prices have not changed.
According to forecasts of the Central Bank, inflation in 2015 will not exceed 2-3%. However, independent experts believe that due to the fall in oil prices the government tries to make up for the loss of the state budget at the expense of citizens and businesses. The first signs are already there: from the beginning of the year increased rates of certain taxes, the cost of gasoline and diesel fuel. All this will contribute to higher prices for goods and services.
In 2013, official inflation in Azerbaijan was announced at the level of 2.4%. -----08B
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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