In the first half of 2016 the prices of consumer goods and services in Azerbaijan increased 10.5% compared with the same period of 2015.
Food prices grew by 11.9%, industrial goods - by 15.4%, paid services - by 4.5%, the State Statistics Committee informed.
The rise in prices continued in June. According to the State Statistics Committee, in comparison with May, prices for consumer goods and services rose by 0.5% and non-food goods - by 0.3%.
Paid services rendered to the population remained stable. Prices for several products decreased, but it was mainly due to the seasonal products.
In June compared with May, the majority of non-food products increased in price. This mainly affected textiles, clothing, footwear, building materials, jewelry, carpets, floor coverings, glassware, cookware, appliances, TV sets, computers, cars, etc. -0-
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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