
In 2013, consumer prices rose by 2.4%
In 2013, consumer prices in Azerbaijan rose by 2.4%, the State Statistics Committee told Turan . This is a 1.3 % strength point more than in the previous year.
According to official figures , food in the past year has risen in price by an average of 2.2% ( 2012 - 0.8 %) , non-food products - 0.8 % (1% ), and the rates and prices for paid services - 3.5% ( 1.2%).
Alternative Calculation of the rate of inflation in 2008-2012 was carried out by the NGO Center for Economic Research, which elicited a serious deviation in the official inflation figures. For example, in 2012 the official rate of growth of consumer prices was only 1.1 % , while the alternative observation was recorded 9.9 % inflation . Alternative Calculation of inflation was discontinued due to lack of funding. SSC negative attitude to these studies, as they did not meet the international methodology of inflation.
However, even the official figures show that the increase in prices relentlessly eats money income. From 2005 to 2012 the cumulative inflation stood at 80.2%. This means that the cash income per month of 100 manat depreciated over this period by 80.2% and in 2013 the money could buy goods and receive services in the amount of AZN 19.8.
In the 2005-2012 year, food prices grew by 99.8%, non-food products - 42.6 %, and cash services - 69.7%. - 08B-
-
- Economics
- 15 January 2014 14:53
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review