In January, consumer prices in Azerbaijan increased compared with December by 2.3%. Food rose in price by 2.8%, non-food – by 2%, paid services – by 1.9%, the State Statistics Committee reported.
Inflation in annual terms was 11.9% in January. In January this year food was 14.5% more expensive compared with the same month in 2016, non-food products grew by 12.3%, and paid services to the population grew by 8%.
Since January, new tariffs for natural gas for the population have been applied, providing double the tariff for consumption exceeding the limit (1,700 cubic meters a year) - AZN 200 per 1 thousand cubic meters.
Last year, the Tariff Council increased fees for water, electricity and sewage services. Growth in consumer prices mainly resulted from the devaluation of the national currency approximately twofold for the year. ----08D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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