Consumer market
In January to October 2007 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 18.6%. In January to October 2007 the amount of retail goods turnover comprised AZN 6048.9mln, or 15% up as compared to last year. The commercial services delivered to population comprised AZN 1844.1mln, or 33.3% up as compared to previous year.
Prices
In January to October 2007 the growth pace of inflation was 16.1% as compared to 2006, when it was at 7.7%. The consumer prices rose by 13.1% in October as compared to 2006.
Inconsiderable rise in the growth pace of inflation was caused by intensification of the growth pace of prices of all goods, particularly services. It is linked with the resolution by the Tariff Council, dated 8 January 2007, on increase of prices of energy resources and transport fairs. Thus, in January to October 2007 the food prices rose by 15.4% as compared to 2006. The prices of non-food products increased 10.3%. The service prices rose 24.8%.
As compared to September 2007, in October 2007 the index of industrial goods price increased by 11.7%. The figure increased by 13.3% compared to December 2006. Prices increased by 12.7% compared to October 2006, while in January to October, the prices rose 1.6%. Wholesale prices in oil refinery rose 19.4%, maintaining the similar rate since the beginning of the year. Rise by 25.4%, 34.2% and 30.4% was observed in the chemical refining industry respectively, in metallurgy increase was 5.4%, 1.3% and 3%.
Three-fold increase observed in January in electricity prices led to rise in prices in the power engineering (distribution and production of electricity, gas and water) by 251.5% in October
with respect to similar period of last year and 251.1% in October as compared in January to October.