Food Prices Increased by 2%

According to Turan monitoring, in July, Baku experienced a 2% increase in construction material prices, driven by significant inflationary trends.

Azerbaijan's tea industry is struggling to meet its ambitious growth targets, despite government efforts to boost production. According to the State Statistical Committee (SSC), the country harvested 495.8 tons of green tea leaves in the first half of 2024, marking a 9.2% decline compared to the same period last year.

The World Bank (WB) has proposed increasing funding for renewable energy projects in Azerbaijan following recent consultations between the bank and the Azerbaijani government. The proposed project aims to allocate approximately $380 million to improve energy transmission and integrate large-scale renewable energy sources into the country's energy system.

The State Statistics Committee of Azerbaijan has announced amendments to the official statistical reporting form on social benefits, compensations, and pensions, according to a decree issued on July 25, 2024. This decision, intended to enhance the accuracy of statistical data, was made in line with recent legislative changes affecting social benefits.