Prices and situation in consumer market (26.10- 31.10.2009)

Consumer market

In January to September 2009 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 9.6%. The amount of retail goods turnover comprised AZN 11270.3mln. In particular, 69.1% of growth accounted for retail trade, 30.1% - paid services.

During January-September 2009 trading networks of Azerbaijan sold population consumer goods at 8464.3 million manat, which is 8.5% more than the same period of last year. The share of retail turnover in the consumer market is 75.1%. Legal entities provided 14.7% of turnover, fairs and markets - 42.4%, individual entrepreneurs - 42.1%.

According to the data provided by the State Statistics Committee of Azerbaijan, of the total amount, AZN 5507.2mln was made up of foodstuffs, AZN 2957.1mln - non foodstuffs. The increase in sales on both goods was 10.7% and 3.9% respectively.

During January-September 2009, every citizen of the country acquired consumer goods and paid services at 141.5 manat that 13.5 manat higher than January-September 2008. In January-September, the average turnover per 1 inhabitant of the country amounted to 106.3 manat.

In January to September commercial services to population made up 2806.0 million manat, or up 12.5 percent. Individual entrepreneurs provided 20% of services, legal entities - 80%, with growth of 10.1% and 13.1% respectively.

The services in September amounted to 381.2 million manat increasing by 10.4 million manat compared to August 2009. In January-September, the average amount of paid services per 1 inhabitant of the country amounted to 35.2 manat, which is 5.4 manat higher than the same period of 2008.

Prices

Prices for consumer goods and tariffs for services increased 0.4% in September compared to August 2009, but in January-September 2009, rose by 2.1% 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 September, the prices for food products rose by 0.4%, for non-food products increased by 0.1%, while tariffs for services rose by 0.4%.

Compared to September 2008, food prices reduced by 0.4%, non-food - increased by 4.7%, and tariffs of services - rose by 6.4%.

In September 2009, the base index of the consumer prices incurring seasonal changes (fruits and vegetable) and being regulated by the Government made up 100.8% as compared to the previous month, and 102.5% to the same period of the last year.    

The government forecasts inflation in 2009 at 13%.

As compared to the previous month, in September 2009 the index of industrial goods price increased 6.2%, but reduced 30.6% compared to the same period of the last year.

The price in oil and gas production increased 7.5% in September compared to August 2009, but decreased 45.6% compared to the same period of 2008.  

The prices in refining chemical products increased 3.0% in the month and reduction totaled 24.9% at annualized pace. In September, the prices in metallurgy increased by 0.6% compared to August, but declined 25.5% at annualized pace. The prices for electricity, gas and water decreased by 0.2% in September as compared to August 2009, but grew 1.2% at annualized pace.

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