In February of this year, the State Statistics Committee recorded inflation at 0.4%. Recall that in January for the first time in many years there was deflation: consumer prices fell in comparison with December on average by 0.2%.
In SSC they told Turan, that food prices in February rose by an average of 0.8 % and non-food goods and services remained stable on average.
Recall that the Turan news agency conducted monitoring food market in early February of this jump was set prices for many basic commodities, mostly locally sourced.
Over the past month SSC recorded price increase in rice, fish, lamb, butter, olive and corn oil, sausages, sugar, salt, many fruits and vegetables. In January certain price reductions were noted for buckwheat, beef and chicken, eggs, potatoes, and other goods.
In February 2013 inflation reached 0.5%.
According to the State Statistics Committee meeting held on February 6, the head of this department Arif Veliyev met with a delegation of the International Monetary Fund, led by Raja Almarzogi; also a subject of discussion was the level of inflation in Azerbaijan this year.
The government forecasts inflation for 2014 at 3.5 %. Last year, the official inflation rate was 2.2%. - 08D-
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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