Prices and situation in consumer market
In January to July 2008 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 118.0%. The amount of retail goods turnover comprised AZN 5861.1mln, or 15.2% up as compared to last year. The commercial services delivered to population comprised AZN 1719.4mln or 29.4% up as compared to previous year
In January to July 2008 the growth pace of inflation was 20.9% as compared to 2007, when it was at 15.9%.
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. In July 0.3% deflation was observed as compared to June 2008.
In July the food prices dropped by 1.4%. The prices of non-food products increased 0.6%. The service prices rose 1.5%.
Thus, in January to July 2008 the food prices rose 29% as compared to 2007, non-food products - 10.9%, and the service prices - rose 11.3%.
In July, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government made up 100.6% as compared to June.
As compared to June, in July 2008 the index of industrial goods price decreased by 0.3%. The figure increased by 26.1% as compared to the same period of 2007. Price decrease in oil and gas production was 0.2% in July, while in January to July increased by 133.5%.
During the month, rise by 100.6% was observed in the chemical refining industry, in metallurgy increase was 0.3%. The prices for electricity, gas and water increased by 0.2%.