BAKU/12.12.13/TURAN : Index of industrial production costs rose in November compared with October by 7.6% .
The State Statistics Committee said, mainly on the production affected by inflation rise in crude oil and natural gas by 8.2%. Cost of exploration and extraction of other minerals and ores decreased by 0.1 %.
Besides hydrocarbons largest price increase was noted in the manufacture of food products and printing , as well as electrical equipment - by 2.4%. 2.2 % more expensive chemical products , 1.8% - of rubber and plastic, 1.4% - construction materials , 1.3% - wood products , 1.1% - drugs and medicines . On other positions growth is unimportant .
Experts expect the results of December 's official confirmation of a significant increase in the index, both food production and prices. - 17D-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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