Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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From January to August 2024, Azerbaijan’s retail trade network saw sales reach 37.2 billion manats, with consumers spending 20.6 billion manats on food products, beverages, and tobacco, and 16.6 billion manats on non-food items. This growth comes as retail turnover increased by 3.5% in real terms compared to the same period last year, according to data from the State Statistics Committee.
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