Between January and October of this year, consumer price inflation in the country made at an annual rate 2.3%, up 1% point increase over the comparable period in 2012. Turan was told at the State Statistics Committee. Experts predict a double-digit inflation for next year.
According to official estimates, on an annualized basis, food prices rose in January -October 2013 by 2.2%. Non-food prices rose by only 0.5 %. Service providers increased their rates by 3.4 %.
Alternative Calculation of Inflation in Azerbaijan by the civil society was not conducted this year. Therefore, experts, comparing the prices of goods, noted that after a slight increase in wages of employees of budgetary institutions from September this year, the prices significantly increased.
The government is preparing to raise prices and tariffs for energy, utility and communications services. This will seriously affect the consumer market. Therefore, it is expected that the annual inflation rate for 2014 will amount to no less than 10 % and not 3.5% as the government predicts. -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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