Prices and situation in consumer market

Consumer market

In the first half year of 2008 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 117.8%. The amount of retail goods turnover comprised AZN 4956.6mln, or 14.9% up as compared to last year. The commercial services delivered to population comprised AZN 1423.1mln or 29.5% up as compared to previous year

Prices

In the first half year of 2008 the growth pace of inflation was 20.2% as compared to 2007, when it was at 16%.

Considerable 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 June 2008 the food prices rose 28% as compared to 2007. The prices of non-food products increased 10.6%. The service prices rose 11.2%.

In June the prices for the consumer goods increased by 0.1%. At the same time, the prices for foodstuffs rose by 3.5%, non-food - 1.5% and services remained unchanged.

In June, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government made up 101% as compared to May, but in the first half year, the figure totaled 121.6% as compared to the same period of 2007.

As compared to May, in June 2008 the index of industrial goods price increased by 7%. The figure increased in January to June by 23.8% as compared to the same period of 2007. Price rise in oil and gas production was 8.9% in June, while in January to June increased by 130.3%.

Rise by 100.1% was observed in the chemical refining industry in June, while in January to June increased by 107.9%. In metallurgy increase was 4.9% in June, while in January to June - 98.8%. The prices for electricity, gas and water rose by 0.9% in June, but during the year - 1.4%.

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