In May, consumer prices in Azerbaijan fell by 0.4%, according to the State Statistics Committee. Last year deflation due to seasonal factors started in April and lasted until August.
According to the State Statistics Committee, in comparison with April food products fell by 0.9%. In May, in contrast to the previous month, prices and tariffs for industrial goods and services rose by an average of 0.1%.
During the month increased prices for sour cream, corn oil, apples, pears, herbs, beetroot, carrots and onions. But cheap goods more - dropped the price of flour, buckwheat, beef, mutton, chicken, fresh fish. Fell as whole milk, melted cheese, fat cottage cheese, butter, eggs, sugar, and some fruit. - 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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