Prices and situation in consumer market (28.09- 03.10.2009)

Consumer market

In January to August 2009 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 9.5%. The amount of retail goods turnover comprised AZN 9893.2mln. In particular, 69.0% of growth accounted for retail trade, 31.0% - paid services.

During January-August 2009 trading networks of Azerbaijan sold population consumer goods at 7468.4 million manat, which is 8.4% more than the same period of last year. The share of retail turnover in the consumer market is 75.5%. Legal entities provided 14.6% of turnover, fairs and markets - 42.7%, individual entrepreneurs - 41.9%.

According to the data provided by the State Statistics Committee of Azerbaijan, of the total amount, AZN 4886.0mln was made up of foodstuffs, AZN 2582.4mln - non foodstuffs. The increase in sales on both goods was 10.9% and 3.3% respectively.

During January-August 2009, every citizen of the country acquired consumer goods and paid services at 139.9 manat that 11.4 manat higher than January-August 2008. In January-August, the average turnover per 1 inhabitant of the country amounted to 105.6 manat.

In January to July commercial services to population made up 2424.8 million manat, or up 12.6 percent. Individual entrepreneurs provided 20% of services, legal entities - 80%, with growth of 9.1% and 13.7% respectively.

The services in August amounted to 370.8 million manat increasing by 35.9 million manat compared to August 2008. In January-August, the average amount of paid services per 1 inhabitant of the country amounted to 34.3 manat, which is 4.7 manat higher than the same period of 2008.

Prices

Prices for consumer goods and tariffs for services increased 0.1% in August compared to July 2009, but in January-August 2009, rose by 2.6% compared to the same period of 2008 (data from the State Statistics Committee).

The main reason of inflation is the decision of the Tariff Council of Azerbaijan to double the price of natural gas for the country's population from 1 July 2009. According to this decision, the price of 1,000 cubic meters of natural gas increased from 47.2 to 100 manat. Tariffs were raised in order to improve the quality and reliability of natural gas supply for the population.

In August, the prices for food products remained at the previous level, for non-food products increased 0.1%, while tariffs for services rose by 0.1%.

Compared to August 2008, food prices rose by 0.3%, non-food - 4.7%, and tariffs of services - 6.2%.

In August 2009, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government made up 100.3% as compared to the previous month, and 103.1% to the same period of the last year.    

The government forecasts inflation in 2009 at 13%.

As compared to the previous month, in August 2009 the index of industrial goods price increased 0.2%, but reduced 33.3% compared to the same period of the last year.

The price in oil and gas production increased 0.3% in August compared to July 2009, but decreased 48.4% compared to the same period of 2008.  

The prices in refining chemical products increased 3.5% in the month and reduction totaled 25% at annualized pace. In August, the prices in metallurgy decreased by 2.5% compared to July, but declined 24.6% at annualized pace. The prices for electricity, gas and water decreased by 0.2% in August as compared to July 2009, but grew 1.3% at annualized pace.

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