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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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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BAKU, Sept 10 (Reuters) – The "Chain Reaction 2024" conference commenced in Baku on September 10, bringing together leaders and innovators from across the technology sector. Organized by FARI Solutions in collaboration with the Center for Analysis and Coordination of the Fourth Industrial Revolution and the Innovation and Digital Development Agency, the event is supported by Binance, the world's largest cryptocurrency exchange.
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The Azerbaijani government has amended its financing mechanism for higher education institutions, according to a decree issued by Prime Minister Ali Asadov on September 6. The changes update annual education costs for students in various academic levels and fields, including bachelor’s, master’s, medical, and doctoral programs, under state orders.
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