For the first eight months of this year, inflation reached annualized 1.7%. Compared with January 2011, the official consumer price inflation is estimated at 4.8%.
State Statistics Committee told Turan, that food prices grew at an annual rate of 1.9%, non-food products - 1.3%, services - 1.5%.
Note that in the January-August 2011, the official consumer price index in Azerbaijan amounted to 108.5%.
NGO "Center for Economic Research" conducted over the past few years, an alternative calculation of inflation in Azerbaijan. According to his data, in January-July 2012, the annualized inflation rate was 7.7%. - 08B-
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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