In September 2015, consumer prices in Azerbaijan increased compared to the previous month by 0.3%. At the same time food inflation reached 0.6%, the State Statistics Committee (SSC) reported.
Non-food prices increased on average by 0.1% and prices for paid services to the population remained stable.
According to the SSC, in the first nine months inflation was at an annual rate of 3.7%. Over the year, prices of food products rose by an average of 6%, including alcoholic beverages - 8.1%. Non-food products rose at an annual rate of 3%, and paid services became 1.1% more expensive. -08D-
Goods and services | September 2015 compared with August 2015
| January-September 2015 compared with January-September 2014 |
Total on goods and services | 100.3 | 103.7 |
Including: |
|
|
Foods | 100.6 | 106.0 |
Including: |
|
|
Nutrition | 100.6 | 104.7 |
Alcoholic drinks | 100.4 | 108.1 |
Non-foods | 100.1 | 103.0 |
Paid services | 100.0 | 101.1 |
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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