Consumer prices in Azerbaijan rose by an average of 11.6%, the State Statistics Committee reported for the first ten months. In January-October, food prices grew at an annual rate of 13.4%, non-food products - 16.3%, services - 5.4%.
In October, inflation was 1.3%, including food - 2.3%, non-food products - 1.1%, and services - 0.2%.
An alternative calculation of inflation in Azerbaijan was made in 2012. Independent researchers and politicians noted that consumer prices after two critical devaluations of the national currency in 2015 increased by 30 to 50%. -----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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