The State Committee of Statistics released data on the consumer price index in the country, official authorization to continue reducing the rate of inflation.
Year-on-year inflation for the first ten months of this year was 1.3%, while in January, the figure was 4.8%. In 2011, the rate of increase in consumer prices was 8.3%.
In the State Committee, they told Turan that for the year food and non-food prices rose by an average of 1.2% and services - 1.3%.
The official inflation rate does not match the alternative calculation of the Public Association "Center for Economic Research." Thus, according to his calculations, for the nine months the year-on-year inflation was 7.36%. - 08B-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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