In March, the price of food in Baku increased by an average of 1%. Among the products that in the month increased the prices, we can specify fresh fish (25%), sausage (10%), rice (10%), butter (5%), and milk (11%). In connection with the Novruz holiday there was a rise in prices for dried fruit - by 15-20%. 20-25% increase was in the prices for fruits and vegetables: bananas, apples, pears, quinces, pomegranates, cabbages, tomatoes, and cucumbers. At the same time, during the month prices fell for pasta, greens, beets, carrots, garlic, onions, and potatoes.
Experts do not exclude the artificial rise in the prices on the occasion of Novruz. Ramil Aliyev, one of the experts who study the consumer market, believes that "the price increase in March was a logical thing, and this year was no exception." After the holidays, prices stabilized again. In the coming days, food prices will remain relatively stable. As for agricultural products, it is possible that the price will fall in relation to the season.
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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