In the first 11 months of this year, inflation at an annual rate in Azerbaijan made up 12.1%. Food rose in price by 14.1%, non-food products – by 16.8%, and services – by 5.6%.
According to the State Statistics Committee, consumer prices rose by an average of 1.7% in the country in November, including food – by 2.6%, non-food products – by 1.9%, and services – by 0.3%.
In November, compared to October, rice, flour, buckwheat, cookies, pasta, all kinds of meat and meat products, dairy products, eggs, oil, sugar, beverages, fruits, etc. rose in price.
SSC recorded a reduction in the prices of some fruits and vegetables (bananas, apples, lemons, tangerines, persimmons, cabbages, greens, carrots and onions). ------08D
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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