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

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-October 2013, the Azerbaijani trading networks sold consumer goods to the population at 15.631.4 billion manat, which is 9.7 percent more than in January-October 2012. Legal entities ensured 12 percent of trade turnover, individual entrepreneurs - 49.8 percent, fairs and markets - 38 percent.

The Azerbaijani retail trade facilities sold food worth 8.094.2 billion manat with an increase of 1.4 percent and non-food goods worth 7.537.2 billion manat with an increase of 21.2 percent.

During this period, every citizen of the country acquired consumer goods at 167.6 manat per month or by 15.7 manat more than in the same period of 2012.

Paid services worth 5.050.2 billion manat were rendered to the population during the period, or 6.9 percent more compared to January-October 2012. Legal entities ensured 60.3 percent of this growth and rendered the services worth 3.815.8 billion manat.

Each citizen bought paid services worth 54.4 manat per month in January-October 2013 or 4.5 manat more than in January-October 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 October 2013, the prices on consumer goods and tariffs on services increased by 0.7 percent compared to the previous month and by 2.3 percent in January-October 2013 in accordance with January-October 2012.

Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 2.3 percent in January-October 2013.

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-October 2013 compared to January-October 2012.

Food prices increased by 1.2 percent, nonfood goods - by 0.4 percent, tariffs for services - by 0.2 percent in October.

The prices on beef, buckwheat, apples, quince, pumpkin, sugar and granulated sugar reduced in October. During the month, the prices on flour, rice, pasta, lamb and chicken, sausages, milk and dairy products, eggs, butter, cucumber, tomatoes, potatoes, onions and garlic increased.

The prices on fabric, tools, equipment and automotive parts decreased in October. But the prices on clothing and footwear, carpets and floor coverings, furniture, household appliances, building materials and jewelry increased.

The tariffs for passenger transportation by railway and international air transport services decreased. But education in high schools, cleaning, repair and hire of clothing increased in October.

In October, 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 0.4 percent compared to the previous month and by 0.6 percent compared to January-October 2012.

The industrial producer price index decreased by 7.6 percent in October 2013 compared to the previous month, while the prices decreased by 5.0 percent compared to the same period of last year. The prices decreased by 9.0 percent in the oil and gas production in October compared to the previous month and by 6.8 percent compared to the same period of last year.

As of October, the Producer Price Index in manufacturing industry increased by 0.2 percent. The prices in wood processing and wood product manufacturing decreased by 1.6 percent, clothing prices increased by 0.3 percent, production of rubber and plastic goods decreased by 2.4 percent.

Prices in the food industry decreased by 0.2 percent, leather goods, footwear, electrical equipment - remained at the same level.

The chemical production decreased by 2.4 percent, while the production in textile industry increased by 0.3 percent in October. The furniture production increased by 0.8 percent, paper and cardboard production decreased by 2.0 percent.

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

Source: Azerbaijani State Statistics Committee