The New Year’s food basket in Azerbaijan has risen significantly over the year. Overall rise in prices of the consumer basket on 30 types of basic foodstuffs composed by Turan IA was 18%, but for the most important foods of the festive table prices have risen by 22% to 100%. Beef has risen by 42.8%, mutton - 22.2%, chicken - 25.9%, butter - 42.1%, corn oil - 44%, margarine - 33,3%, eggs - 30.7%, granulated sugar - 66.6%, sugar cubes - 33.3%, salt - 28.5%, rice - 38%, sour cream - 22.2%, potatoes - 33,3%, onions - 30%, cucumbers - 100 %, and tomatoes - 94,4%.
The subsistence minimum in Azerbaijan for 2016 amounted to 136 manat. In comparison with 2015 it increased by only 5 manat, or 3.67%. In 2017 it is proposed to increase the subsistence minimum by 13.97%, or up to 155 manat. In connection with the trend of continuing decline of the manat (it fell 2.14-fold from February 2015) increase in the subsistence minimum will maintain relevance, since it has been eaten up by inflation already before its approval by Parliament.
In the past two years of crisis the government has not been able to offer anything to the community to stabilize the situation or mitigate the effects of inflation on family budgets, and especially the poor, the number of which is growing rapidly. According to experts, the number of poor in the population has risen from 5% to 22%.
|
the product's name |
26.12.2016. |
1.12.2015 |
The difference compared to 1.12.2015. |
|
beef |
10.0 |
7.0 |
+ 3.0 |
|
mutton |
11.0 |
9.0 |
+ 2.0 |
|
chicken meat |
3.40 |
2.70 |
+ 0.70 |
|
chicken entrails |
2.80 |
2.80 |
0 |
|
cartilaginous fish |
35.0 |
35.0 |
0 |
|
butter |
10.80 |
7.60 |
+ 3.20 |
|
Or corn. (1L). |
3.60 |
2.50 |
+ 1.10 |
|
margarine |
5.20 |
3.90 |
+ 1.30 |
|
Eggs (10 pcs.) |
1.70 |
1.30 |
+ 0.40 |
|
granulated sugar |
1.30 |
0.78 |
+ 0.52 |
|
sugar |
2.20 |
1.65 |
+ 0.55 |
|
salt |
0.45 |
0.35 |
+ 0.10 |
|
Flour (first grade) |
0.54 |
0.50 |
+ 0.04 |
|
Vermicelli (0.5 kg) |
0.96 |
0.85 |
+ 0.11 |
|
Buckwheat 1 kg |
2.50 |
2.20 |
+ 0.30 |
|
Pasta 0,5 K |
0.96 |
0.85 |
+ 0.11 |
|
rice |
2.90 |
2.10 |
+ 0.80 |
|
Milk (1 liter) |
1.35 |
1.20 |
+ 0.15 |
|
Sour cream (100 g) |
0.55 |
0.45 |
+ 0.10 |
|
Yogurt (1L). |
1.50 |
1.45 |
+0.05 |
|
cheese |
5.20 |
5.0 |
+ 0.20 |
|
local biscuits |
2.10 |
2.10 |
0 |
|
potatoes |
0.80 |
0.60 |
+ 0.20 |
|
bow |
0.35 |
0.50 |
- 0.15 |
|
cucumber |
3.0 |
1.50 |
+ 1.50 |
|
a tomato |
3.50 |
1.80 |
1.70 |
|
cabbage |
0.50 |
0.40 |
+0.10 |
|
apples |
0.80 |
0.80 |
0 |
|
Green (1 bunch) |
0.20 |
0.20 |
0 |
|
|
115.16 |
97.08 |
+ 18.08 |
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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