In January, food prices rose by an average of 1%. For example, butter prices rose by 3%, corn oil at 8.3%, pasta and noodles - by 10%. Prices of other food products have remained broadly unchanged. The seasonal agricultural products rose by an average of 5%.
Economic experts believe that a permanent change in prices of some food products is associated with monopolization. They believe that the appearance of a sharp difference in the average price index of food is due to the actions of monopolies, which reduce or raise their prices monthly. These foods are the most used by the population butter and vegetable oil, eggs and more.
In the coming days, prices will remain stable, and due to the season, the prices of agricultural products may increase.
Economics
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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