In October in Baku and other cities of Azerbaijan, food prices on average remained unchanged. However, within the month there was some change in prices. In particular, by 6% reduced price of butter, but the price of eggs increased by 9 %. In comparison with the same period last year, the price of food commodities increased by an average of one and a half percent, and in comparison with the beginning of 2013 prices fell by 1.7 %.
Prices of summer agricultural products increased an average of 35-40 %, while the prices of autumn ones fell by 50-60 %.
In the coming days, the stability of food prices will continue and the prices of autumn agricultural products will fall.
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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