In October of this year in Azerbaijan the official inflation rate was 0.7%. According to the committee last month, food prices grew by 1.5%, while prices of non-food goods and services remained stable on average.
During October in Azerbaijan rose the prices of flour, bread, beef, lamb, chicken, fresh fish and eggs. The prices of some fruits (oranges, bananas, pears and grapes) and vegetables (tomatoes, cucumbers, peppers, eggplant, beets, carrots, potatoes, and garlic) also increased.
The statistics in October recorded a fall in prices of some food products (butter and vegetable oils, buckwheat, sugar and sugar), as well as some seasonal fruit (lemons, tangerines, apples, quinces, and pomegranates) and vegetables (cabbages, onions, and parsley).
From April to August this year in Azerbaijan there was deflation. In September the official inflation rate was 0.6%. - 08B-
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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