The July price increase was mainly due to fans, travel flights, melons, persimmons and other agricultural plants associated with the holy month of Ramadan.
The public association Center of Economic Research (CER) announced the results of alternative statistical observations of food prices in May this year. This is an objective indicator calculated from the international system of calculating the relative amount of risk (VAR).
As for significant reduction in price, far ahead were grapes (a month earlier eggplants were ahead) with a negative index of 50.55%, potatoes fell by 10.81%, t-shirts for boys of 3-6 - by 14.17%, mobile phones - by 4.99%, due to the forced discount in connection with the departure of people from the capital.
The top three products that became more expensive included melons (51.28%), persimmons (22.07%), air tickets (19.64%), fans (4.40%), and further - in descending order.
According to the executive director of the Center for Economic Research Ghalib Togrul, the inflation rate expected in 2012 is the same as was seen in the past year - at 12%. - 17D-
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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