The State Statistics Committee of Azerbaijan recorded October growth in consumer prices by 0.7 %. After a five-month deflation in September (0.1 %) began the process of inflation.
According to official estimates, food prices increased on average by 1.2% , non-food products - 0.4 %. Pricing for public services went up by 0.2 %. This year, the maximum increase in food prices was in March (1.3%).
According to observations by agency staff, in October fell the prices of beef, buckwheat , sugar and granulated sugar . Prices fell also for seasonal fruits - apples , quinces, pomegranates, lemons, tangerines, walnuts and chestnuts. Cheaper became some vegetables - cabbages , beetroots , carrots .
Prices rose for lamb, sausages and chicken. Grew the prices of rice, pasta , milk and dairy products , eggs , butter. More expensive became potatoes , onions , garlic, cucumbers and tomatoes. - 08D-
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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