Baku / 14.09.17 / Turan: In January-August 2017, consumer prices in Azerbaijan increased by 14% year-on-year, the State Statistics Committee reported.
Over the year, food prices went up by 18.2%, non-food products - 12.6%, and paid services to the population - 9.6%.
Experts associate double-digit inflation with many objective and subjective reasons. These are: an appreciation of the euro, a rise in the price of gasoline, electricity and natural gas inside the country, a reduction in pasture land, etc.
In contrast to previous years, Azerbaijanis could not use seasonal deflation. In July and August, consumer prices rose by 0.1 and 0.2%, respectively. At the same time, food prices went up by 0.3%, non-food products - 0.1%, and paid services to the population - 0.2%.
Last year, official inflation in Azerbaijan was 12.4%. It was 4% in 2015. -----08B
Economics
-
Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
-
Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
-
Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
Leave a review