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
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review