Baku / 10.10.17 / Turan: For nine months of 2017, inflation in annual terms in Azerbaijan was 13.9%, the State Statistics Committee reported.
During this period, food prices went up by 17.9%, non-food products - 12.5%. The population pays private companies and state suppliers of municipal and other services 9.6% more, year on year.
Only in September compared with the previous month, consumer prices rose by 0.7%, including food - 1.4%, non-food products - 0.4%, as well as paid services to the population - 0.1%.
Annual inflation is taken into account when indexing the insurance part of labor pensions. In 2016, inflation was 12.4%. -0 ----
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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