The State Statistics Committee published the 14th of January the inflation rate for 2015. According to official estimates, consumer prices in Azerbaijan rose by an average of 4%.
According to the SSC, in food retail in 2015 rose by 6.1%, non-food products - 1.9%, services to the population - 1.2%.
In 2015, the rate of the manat in regard to US dollar on the decisions of the Central Bank suffered devaluation 0.78 AZN / USD up to 1.55 AZN / USD or twice.
The annual inflation rate applied to the indexation of insurance part of labor pensions. According to the State Social Protection Fund, Azerbaijan has 1 million 295.9 thousand labor pensioners. Basic part of pensions is 100 manats. On 1st January 2016 pensioners received monthly average 176.03 manats, and old-age pensioners - 196.08 manats.
In 2014, inflation reached 1.4% and in 2013 - 2.4%. ---08B
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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