The situation with lending in Azerbaijani banks

In August 2024 in Baku, average prices of the consumer basket (CB) for 30 types of basic food products of domestic production, compiled by Turan agency, rose by 0.6%.

In August 2024, the situation regarding deposit acceptance changed in one bank in Azerbaijan. Specifically, Access Bank increased its annual interest rate on classic deposits in manat from 9-9.5% to 9.5-10% for a one-year term. In the remaining 21 banks, deposit interest rates remained stable last month. The tables below show: Table 1 displays the annual interest rates for classic deposits, and Table 2 shows the rates for savings deposits.

In July, prices for construction materials in Baku rose by an average of 2%.

In July 2024, in Baku, the average price of the consumer basket (CB) for 30 types of basic food products of domestic production, compiled by the Turan agency, increased by 2%. In June, the average CB price decreased by 2%, in May by 0.2%, in April decreased by 2%, in March increased by 5%, in February decreased by 3%, in January 2024 increased by 1%, in December 2023 increased by 1%, in November decreased by 2%, in October by 0.5%, in September increased by 3%, in August by 0.8%, in July by 3%, in June by 7%, in May decreased by 7%, in April increased by 0.7%, in February the price decreased by 1%, in January increased by 2.6%, in December 2022 by 1%.