In October in Baku and other cities of Azerbaijan, food prices on average remained unchanged. During the month, there have been some changes in prices, in particular, sunflower oil fell in price by 7.7%, and eggs rose by 11.1%. Prices for other foods did not change. Overall, compared to the same period last year, prices rose on average by 1.8%, and compared with the start of this year they fell by 2.3%.
Prices for non-seasonal fruits and vegetables increased an average of 15-20%. The prices of seasonal fruits and vegetables reduced 50-100%.
In the coming days, food prices are to be relatively stable, and seasonal fruits and vegetables will become cheaper.
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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