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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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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