Inflation in October was 1.96%.
According to the calculations of the Economic Research Center (ERC) conducted in 10 districts of the capital and the country, the growth in prices was observed in all the real economy. Food inflation stood at 2.96%, non-food prices rose by 1.18%, services (for the first time since the beginning of the year) - 1.64%.
Most of the increase in consumer prices was reflected in Baku - 2.71% (food prices rose by 3.23%, non-food products - by 2.30% and services - by 1.85%), and in the regions it was + 1.23% (food - 1.69%, non-food products - 0.09%, and service - 1.44%).
Since the beginning of the year, inflation, as calculated by the ERC, was 6.06% (9.59% in Baku and 2.59% in the regions). On average, food rose in price by 8.76%, non-food products - by 1.68%, and services - by 4.64%.
This year (from November 1, 2011) prices rose by 8.96% (in Baku - by 13.23% and in the regions - by 4.76%). Food prices went up by 14.02%, non-food products - by 1.16%, and services - by 6.07%. -17D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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