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
-
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.
-
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.
-
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.
-
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.
Leave a review