Prices and situation in consumer market in Azerbaijan (January-August 2014)

The Azerbaijani consumer market continues developing rapidly (9-10 percent) in 2014. The retail trade facilities, catering trade points are developing in the country both qualitatively and quantitatively.

According to the State Statistics Committee, the Azerbaijani trading networks sold consumer goods to the population at 13.599 billion AZN in January-August 2014, which is 9.3 percent more than in the same period of 2013. Legal entities ensured 11.6 percent of trade turnover, individual entrepreneurs - 51.4 percent, fairs and markets - 36.8 percent.

Around 50.3 percent accounted for the share of Azerbaijani retail trade facilities in the sale of food to the population or 3.5 percent more than in January-August 2013. Non-food items were sold in the amount of 6.8 billion AZN with a 15.4 percent growth.

During this period, every citizen of the country acquired consumer goods at 180.4 AZN per month or by 16.4 AZN more than in the same period of 2013.

Paid services worth 4.117 billion AZN were rendered to the population in January-August 2014 or 6.3 percent more compared to the same period of 2013. Legal entities ensured 60.7 percent of this growth and rendered the services worth 3.1 billion AZN.

Each citizen bought paid services worth 54.8 AZN per month in January-August 2014 or 2.8 AZN more than in the same period of 2013. Transportation, public utilities and communication services prevail in the structure of paid services. Besides improving the material condition, great using of paid services by the population is associated with the fact that the structure of rendered paid services is being improved. A network of companies is being developed in this sector.

Prices

According to the State Statistics Committee, in August 2014, the prices on consumer goods and tariffs on services remained unchanged compared to the previous month and increased by 1.4 percent in January-August compared to the eight months of 2013.

Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 1.4 percent.

The prices for food decreased by 0.1 percent, non-food goods and tariffs for services remained unchanged in Azerbaijan in August compared to the previous month.

The food prices increased by 0.8 percent, non-food products - by 3.6 percent, tariffs for services - by 0.4 percent in the reporting period of the year compared to January-August 2013.

In August, the base index of consumer prices, calculated except for the goods and services subject to seasonal changes (fruits and vegetables) and the prices of which are regulated by the state, reduced by 0.1 percent compared to the previous month and increased by 1.8 percent for eight months compared to January-August 2013.

In August, the prices on agricultural products increased by 2.3 percent compared to July, including crop products - by 8.6 percent. The prices on cucumbers increased by 55.9 percent, watermelons - 32.1 percent, beans - 24.4 percent, tomatoes - 21.2 percent.

The tariffs for cargo transportation in the Azerbaijani transport sector decreased by 0.2 percent, while passenger transportation reduced by 0.9 percent in August 2014. Passenger air transportation in the CIS countries for the period increased by 4.2 percent, while in other foreign destinations reduced by 11.8 percent.

The industrial producer price index reduced by 4.3 percent in Azerbaijan in August 2014 compared to July. During this period, producer prices in the mining industry decreased by 4.8 percent, while in the manufacturing industry - by 0.7 percent.

Average market price and indices of basic food commodities in January-August 2014

Source: Azerbaijani State Statistics Committee