In January of this year, the State Statistics Committee registered deflation: consumer prices fell in comparison with December on average by 0.2%.
In SSC they told Turan that food prices in January rose by an average of 0.2 %, and services, on the contrary, decreased by 0.9 %. Non-food prices remained stable.
Note that since the beginning of February in Azerbaijan, prices of local and imported food products began to grow.
Over the past month SSC recorded a rise in price of rice, fish products , meat products , milk and dairy products , eggs, butter, corn oil , sugar, salt, many fruits and vegetables. In January, a slight decrease in prices was recorded at chicken, oranges, bananas, carrots, potatoes and dried grapes.
In January 2012, inflation reached 0.1% in 2013 - 1.2%. - 08D -
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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