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Prices and situation in consumer market in Azerbaijan (January-August 2013)

Analysis Materials 9 October 2013 15:46 (UTC +04:00)

The Azerbaijani consumer market is developing rapidly (9-10 percent). The retail trade facilities, catering trade points are developing in the country both qualitatively and quantitatively.

According to the State Statistics Committee, in January-August 2013, the Azerbaijani trading networks sold consumer goods to the population at 12.208 billion manat, which is 9.4 percent more than in January-August 2012. Legal entities ensured 12.2 percent of trade turnover, individual entrepreneurs - 56.6 percent, fairs and markets - 43.4 percent.

The share of private sector in the retail trade turnover amounted to 99.8 percent. The population bought consumer goods worth 12.179.3 billion manat from the enterprises in January-August 2013 or 9.6 percent more than in the same period of last year.

The Azerbaijani retail trade facilities sold food worth 6.343.3 billion manat with an increase of 0.5 percent and non-food goods worth 5.864.7 billion manat with a growth of 21.6 percent. During this period, every citizen of the country acquired consumer goods at 164 manat per month or by 14.7 manat more than in the same period of 2012.

Paid services worth 3.855.6 billion manat were rendered to the population during the period, or 6.8 percent more compared to January-August 2012. Legal entities ensured 59.3 percent of this growth and rendered the services worth 2.933.5 billion manat.

In January-August 2013, each citizen bought paid services worth 52 manat per month, or 4.5 manat more than in January-August 2012. Transportation, public utilities and communication services prevail in the structure of paid services. Besides improving the material condition, great using of paid services by the population is associated with the fact that the structure of rendered paid services is being improved. A network of companies is being developed in this sector.

Prices

According to the State Statistics Committee, in August 2013, the prices on consumer goods and tariffs on services decreased by 0.3 percent compared to the previous month and increased by 2.2 percent in January-August 2013 in accordance with January-August 2012.

Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 2.2 percent in January-August 2013 compared to the same period in 2012.

According to the Azerbaijani Central Bank's forecasts, inflation will be preserved at 5-6 percent by influencing the monetary growth rate by classical regulatory tools in Azerbaijan in 2013.

The food prices increased by 2.2 percent, tariffs for services - by 3.4 percent and non-food goods by 0.5 percent in January-August 2013 compared to January-August 2012.

Food prices decreased by 0.8 percent, nonfood goods remained unchanged, tariffs for services increased by 0.1 percent in August.

In August, the base index of consumer prices, calculated except for the goods and services subject to seasonal changes (fruits and vegetables) and the prices of which are regulated by the state, increased by 0.1 percent compared to the previous month and increased by 0.6 percent compared to January-August 2012.

The industrial producer price index increased by 2.6 percent in August 2013 compared to the previous month, while the prices decreased by 4.9 percent compared to the same period of last year. The prices increased by 2.9 percent in the oil and gas production in August compared to the previous month, while they reduced by 6.7 percent compared to the same period of last year.

As of August, the Producer Price Index in manufacturing industry decreased by 0.9 percent. The prices in wood processing and wood product manufacturing increased by 1.5 percent, clothing prices decreased by 0.4 percent, production of rubber and plastic goods increased by 2.5 percent.

Prices in the food industry increased by 0.4 percent, leather goods and footwear decreased by 0.5 percent, electrical equipment - remained at the same level.

The chemical production decreased by 0.4 percent, while the production in textile industry increased by 2.7 percent in August. The furniture production decreased by 0.1 percent, paper and cardboard, computers and electronic equipment production - remained at the same level.

Average market price and indices of basic food commodities in January-August 2013

Goods

Jan.-Aug. 2012 (kg, manat)

Jan.-Aug.2013 (kg, manat)

Aug. 2013 compared to July 2013

Aug. 2013 compared to Aug. 2012

Beef

7,63

7,52

100,4

98,6

Mutton

8,64

8,86

100,3

102,6

Poultry

3,38

3,34

100,4

98,7

Butter

6,08

5,98

100,4

98,4

Vegetable oil

2,27

2,21

100,0

97,3

Margarine

2,51

2,48

100,0

98,6

Milk

0,93

0,81

99,7

86,7

Kefir

1,55

1,53

100,1

98,8

Sheep cheese

4,62

4,61

100,0

99,7

Eggs (10 pieces)

0,93

1,16

102,5

125,0

Granulated sugar

1,10

1,01

99,5

91,7

Sugar

1,40

1,41

99,9

100,6

Tea (500 gr)

4,19

4,33

100,1

103,5

Salt

0,49

0,49

100,0

100,2

Wheat flour

0,72

0,72

99,8

100,3

Bread

0,57

0,60

99,8

105,9

Rice

1,54

1,50

100,3

97,5

Manna-croup

1,62

1,67

100,0

102,8

Buckwheat

1,97

1,64

99,7

83,3

Pasta

1,45

1,46

100,0

100,5

vermicelli

1,43

1,42

99,9

99,1

Potato

0,47

0,57

98,3

120,7

Cabbage

0,73

0,61

86,0

84,0

Onion

0,47

0,48

91,7

102,9

Garlic

2,14

1,74

96,2

81,2

Beet

0,86

0,87

99,9

101,0

Carrot

0,98

1,10

107,5

112,5

Cucumber

0,68

0,67

111,7

98,0

Tomato

1,13

0,70

101,1

61,8

greens (1 bunch)

0,18

0,17

103,5

96,2

Apple

0,90

1,04

84,1

115,8

Pear

1,21

1,40

87,6

115,8

Grape

1,33

1,78

69,2

133,9

Plum

1,55

1,77

78,3

138,9

Banana

2,32

2,46

100,6

106,1

Source: Azerbaijani State Statistics Committee

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