In June 2014 consumer prices fell by 1.2%, estimated by the State Statistics Committee of Azerbaijan. In annual terms, inflation amounted to 1.6%.
According to official estimates, in June, food prices fell by 2.9% and non-food products - 0.1%. While paid services rose by an average of 0.2%.
Independent experts are wary of official price statistics, which they call "politicized." According to the economist Gubad Ibadoglu inflation data fabricated and are contrary to the alternative count. "Baku is included in the list of the 50 most expensive cities in the world. In a low growth of real incomes of the population, this fact is a direct indicator of the deterioration of living standards in the country, "he told the online Meydan TV.
In annual terms, food went up by 1.2%, non-food products - 3.6%, services - 0.3%.
Note that, for example, seasonal deflation was observed in Russia and Kazakhstan in June. In these countries in June, consumer prices rose by 0.6% and 0.3%, according to their statistical agencies. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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