Prices and situation in consumer market
In January-February 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 1495.2mln, or 14.5% up as compared to last year. The commercial services delivered to population comprised AZN 435.68mln, or 29% up as compared to previous year
In January to February 2008 the growth pace of inflation was 15.7% as compared to 2007, when it was at 16.7%.
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 February 2008 the food prices rose 20.3% as compared to 2007. The prices of non-food products increased 9.5%. The service prices rose 10.3%.
As compared to January, in February 2008 the index of industrial goods price decreased by 0.8%. The figure increased by 16.7% compared to the same period of 2007. Price fall in oil and gas production was 1.8% in February, while in January to February increased by 20.9%.
Wholesale prices in oil refinery rose 0.1%, maintaining the similar rate since the beginning of the year. Rise by 0.4% was observed in the chemical refining industry, in metallurgy increase was 1.4%. Rise by 6%, 0.9% and 1.8% was observed in power engineering. In February the prices remained unchanged for the electricity, gas and water.