EBRD and Azerbaijan Deepen Cooperation on Green Transition and Infrastructure Projects

Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.

Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.

Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.

From January to August 2024, Azerbaijan’s retail trade network saw sales reach 37.2 billion manats, with consumers spending 20.6 billion manats on food products, beverages, and tobacco, and 16.6 billion manats on non-food items. This growth comes as retail turnover increased by 3.5% in real terms compared to the same period last year, according to data from the State Statistics Committee.