Prices and situation in consumer market in Azerbaijan (January-February 2014)

The Azerbaijani consumer market continues developing rapidly (9-10 percent) in 2014. The retail trade facilities, catering trade points are developing in the country both qualitatively and quantitatively.

According to the State Statistics Committee, the Azerbaijani trading networks sold consumer goods to the population at 3.193.3 billion manat in January-February 2014, which is 9 percent more than in the same period of 2013. Legal entities ensured 11.9 percent of trade turnover, individual entrepreneurs - 51 percent, fairs and markets - 36.9 percent.

The Azerbaijani retail trade facilities sold food worth 1.704.5 billion manat with an increase of 0.9 percent and non-food goods worth 1.488.8 billion manat with an increase of 20.1 percent.

During this period, every citizen of the country acquired consumer goods at 170.4 manat per month or by 16.5 manat more than in the same period of 2013.

Paid services worth 1.010.3 billion manat were rendered to the population in January-February 2014 or 6.9 percent more compared to the same period of 2013. Legal entities ensured 60.5 percent of this growth and rendered the services worth 756.5 million manat.

Each citizen bought paid services worth 53.9 manat per month in January-February 2014 or 3.5 manat more than in the same period of 2013. 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 February 2014, the prices on consumer goods and tariffs on services increased by 0.4 percent compared to the previous month and by 2.1 percent in January-February compared to the same period of the previous year.

Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 2.1 percent in February 2014.

The food prices increased by 0.8 percent, tariffs for the paid services rendered to the population and non-food goods remained unchanged in Azerbaijan in February.

Food prices increased by 2.4 percent, nonfood goods - by 3.5 percent, tariffs for services - by 0.2 percent in January-February 2014 compared to the same period of 2013.

In February, 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 0.2 percent compared to the previous month and by 1.5 percent compared to January-February 2013.

The industrial producer price index increased by 1.7 percent in February 2014 compared to the previous month, while the prices decreased by 2.2 percent compared to January-February 2013. The prices increased by 0.1 percent in the oil and gas production in February compared to the previous month and decreased by 4.3 percent compared to January-February 2013.

As of February, the Producer Price Index in manufacturing industry increased by 13.1 percent. The prices in wood processing and wood product manufacturing increased by 0.6 percent, clothing prices - 0.4 percent, production of rubber and plastic goods - 1.6 percent.

Prices on the leather goods, footwear decreased by 0.5 percent, while pharmaceutical products - 0.7 percent. The prices on electrical equipment remained at the same level.

Average market price and indices of basic food commodities in January-February 2014

Source: Azerbaijani State Statistics Committee