In March, the food prices in Baku in general fell by 1%. It should be noted that the marked increase in February was at 4.4% and the decrease in January was at 2%.
In the basket of food commodities of 30 items registered by Turan IA, eggs got much cheaper (-28%). Also cheaper became chicken (-3.8%), corn oil (-4.6%), sugar (-6.2%), rice (-4.7%), and milk (-9%).
The prices rose for cucumbers (+ 25%), beef (+ 15.4%), lamb (+ 5.2%), and buckwheat (+ 12%).
Other prices did not change. In general, decline in prices for such everyday foodstuffs as meat and poultry in the winter, i.e. in the off-season for fruits and vegetables, means a decline in demand due to the low purchasing power of the population caused by the crisis in the economy.
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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