Prices and situation in consumer market
In January 2008 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 17.7%. The amount of retail goods turnover comprised AZN 754.3mln, or 14.7% up as compared to last year. The commercial services delivered to population comprised AZN 239.8mln, or 29.1% up as compared to previous year
In January 2008 the growth pace of inflation was 15.3% as compared to 2007, when it was at 17%.
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 2008 the food prices rose by 19.2% as compared to 2007. The prices of non-food products increased 9.9%. The service prices rose 10.8%.
As compared to December 2007, in January 2008 the index of industrial goods price increased by 0.4%. Prices in oil and gas production in January increased by 0.3% while during the year, the prices rose 21.9%. Wholesale prices in oil refinery rose remained unchanged, maintaining the similar rate since the beginning of the year. In metallurgy increase was 0.7%. In January the prices for the electricity, gas and water remained unchanged, but during the year increased by 0.1%.