In April, consumer prices in Azerbaijan rose by 0.4%.
According to the committee, compared with March, food prices grew by 0.9%. As in previous months, the prices of non-food goods and services remained on average the same.
During the month increased prices of rice, pasta and sausages, sour cream, sunflower and corn oils, some fruits, including apples, pears and citrus fruits. The prices also grew for vegetables: cabbages, peppers, beetroots, carrots, garlic, onions, and potatoes.
SCS has also recorded a drop in prices for foodstuffs (flour, buckwheat, beef and chicken meat, fresh fish, milk, eggs, butter, sugar and granulated sugar, herbs).
An alternative calculation of the consumer price index this year is not conducted by non-governmental organizations. These calculations revealed a higher inflation rate in Azerbaijan. For example, according to estimates of the Public Association "Center for Economic Research", in 2012 inflation was 9.9%, while the official inflation rate was announced at 1.1%. - 08D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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