BAKU, Azerbaijan, August 8. Veyseloglu Group of Companies (VGC) has published its monthly retail index for July 2022. According to the latest report published by the Group, the figure for July is 112,6%. This indicator, known as the Veyseloglu Retail Index, represents the changes in the price of the products with the highest consumer demand sold across the Group’s retail outlets.
The index represents the dynamics in the overall price level of the most purchased products by the company’s customers over the past 24 months. It is important to note that this index does not represent a precise level of inflation.
The overall cost of the most purchased products in July 2022 was higher by 18,9% compared to July 2021. According to the latest figures, the prices of fresh/perishable products increased by 20,8%, the prices of non-perishable (dry, bulk, frozen foods, confectionery and soft drinks) products increased by 19,8%, and the prices of alcoholic beverages and tobacco products increased by 8,0%.
Veyseloglu Retail Index has become popular amongst financial institutions and the expert community, as it provides a reliable alternative source of data in measuring consumers’ purchasing power. It also aims to assist ordinary consumers in budgeting for their monthly purchases.
Veyseloglu Group of Companies (VGC) is a progressive and multi-faceted FMCG group that encompasses various areas of the supply chain, from production, to distribution, to logistics, to direct interaction with customers through its supermarket chains. VGC genuinely believes in sustainable business models and constant innovation to ensure efficiency and driving long-term value for all stakeholders.