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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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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