Prices and situation in consumer market in Azerbaijan (January-October 2011)

In January-October 2011, a rise of the retail goods turnover and paid services offered to population increased by 9.6 percent compared to January-October 2010 and amounted to 17.2 billion manat. In particular, 75.2 percent accounted for retail sales, 19.6 percent - paid services.

In January-October 2011, the trading networks of Azerbaijan sold population consumer goods at 13.1 billion manat, which is 10.4 percent more than January-October 2010. Legal entities provided 12.9 percent of turnover, fairs and markets - 42.6 percent, individual entrepreneurs - 43.8 percent.

In January-October 2011, the paid service rendered to population amounted to 4.187.8 billion manat, which is 7.4 percent more as compared to January-October 2010. Individual entrepreneurs provided 73.0 percent of services, legal entities - 26.9 percent with growth of 10.2 percent and 2.7 percent respectively.

During the reported period, every citizen of the country acquired consumer goods and paid services at 190.0 manat that is 16.8 percent more than January-October 2010, indicating that the purchasing capacity of citizens has increased.

In connection with the rapid economic development and population growth in prosperity, the Azerbaijanis preferred to global brands for many commodities, including alcoholic beverages, cigarettes and other tobacco products, motor vehicles, etc.

Prices

In October 2011, the prices for consumer goods and tariffs for services remained unchanged compared to the previous month, and compared to January-October 2010 increased by 8.3 percent (data from the State Statistics Committee).

Food prices increased by 11.1 percent, nonfood items - by 2.7 percent, and tariffs for services - by 4.6 percent compared to January-October 2010.

Food prices increased by 0.1 percent, nonfood items - by 0.4 percent, and tariffs for services - by 0.5 percent in October compared to September.

In October 2011, the base index of the consumer prices, calculated excluding goods and services, incurring seasonal changes (fruits and vegetable) and being regulated by the Government increased by 0.3 percent as compared to the previous month and by 5.8 percent to January-October 2010.

The increase in prices during the month was observed in such products as semolina, pasta, chicken, sausage, fresh fish, raw milk, butter, margarine, vegetable oil, peaches, watermelons, melons, cucumbers, tomatoes, pepper, sugar .

The decline in prices was observed in such products as flour, bread, buckwheat, eggs, lemons, bananas, oranges, tangerines, apples, pears, quinces, pomegranates, persimmons, grapes, walnuts, chestnuts, cabbage, carrots, garlic, onion and potatoes.

The reduction of tariffs was observed, mainly for Internet services, international transportation of passengers, as well as transportation to the CIS countries by air, railway.

Compared to the previous month, in October 2011, the index of industrial production prices rose by 1 percent, compared to the same period of 2010, prices rose by 25.5 percent. Prices reduced by 1.1 percent in the oil and gas production in October compared to the previous month, but rose by 29.9 percent compared to the same period of 2010.

In the processing of chemical products, prices dropped by 0.7 percent during the month, but rose by 21.5 percent per annum. In October 2011, the prices in metallurgy increased by 3.1 percent compared to the previous month, but increased by 9.1 percent during the year. In October, prices for electricity, gas and water remained unchanged as compared to the previous month.

Average market price and indices of basic food commodities
in January-October 2011

Source: The Azerbaijani State Statistics Committee