Prices and situation in consumer market
In January to November 2007 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 18.8%. In January to November 2007 the amount of retail goods turnover comprised AZN 6726.3mln, or 15.2% up as compared to last year. The commercial services delivered to population comprised AZN 2072.8mln, or 33.4% up as compared to previous year
In January to November 2007 the growth pace of inflation was 16.4% as compared to 2006, when it was at 8%.
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 November 2007 the food prices rose by 15.8% as compared to 2006. The prices of non-food products increased 10.4%. The service prices rose 25.1%.
As compared to October 2007, in November 2007 the index of industrial goods price increased by 0.4%. Prices in oil and gas production in November increased by 0.8% while in January to November, the prices rose 2.6%. Wholesale prices in oil refinery rose 19.4%, maintaining the similar rate since the beginning of the year. In metallurgy increase was 5.2%.
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 251.1% in January to November.