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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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