The State Statistics Committee of Azerbaijan recorded inflation in September at 1.1% according to the consumer price index.
This is the first inflation surge after deflation of the summer season, which saturates the market in agricultural products.
It was the end of the season of cheap fruit and vegetables that impacted on the growth of food by 2.6% with stable prices of manufactured goods. Fees for services did not play any role in the growth of inflation - they rose by only 0.1%.
Earlier small inflation was recorded in the spring months - between 0.2% and 0.4%.
From the beginning of 2014, the government of Azerbaijan planned annual inflation at 3.5%, slightly lower than the forecast of the European Bank for Reconstruction and Development, which denoted inflation in Azerbaijan in 2014 at 3.8%.
In the updated report released by the International Monetary Fund this week, inflation is adjusted downward by the end of this year from 3.5% to 2.8%, which would mean almost maintaining the level of inflation in 2013 as 2.4%. -0
Economics
-
The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
-
According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
-
The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
-
On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
Leave a review