Inflation in Azerbaijan was 0.4% in November, the State Statistics Committee (SSC) said. Food prices increased compared with October by 0.9%. According to the observations of SSC, the prices of non-food products and services to the public remained stable on average.
Prices for rice, flour, chicken, sausages, dairy products, eggs, butter and vegetable oil, as well as many vegetables (cucumbers, tomatoes, eggplants, peppers, potatoes, onions, and garlic) increased.
According to estimates of the SSC, over 11 months, consumer prices in Azerbaijan rose year on year by 3.7%. Food prices grew by 5.9%, non-food products – by 3.1%, and services - by 1%.
Many experts argue that the second wave of devaluation of the national currency is expected, which will entail a new round of inflation. -----08D
Economics
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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.
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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.
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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.
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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.
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