Prices and situation in consumer market in Azerbaijan (January-October 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 17.471 billion AZN in January-October 2014, which is 9.6 percent more than in the same period of 2013. Legal entities ensured 11.6 percent of trade turnover, individual entrepreneurs - 51.6 percent, fairs and markets - 36.6 percent.

During the reporting period, the volumes of retail sales of non-food products increased by 4.8 times more than the food trade. As a result, as of 10 months of the year, the retail sale of non-food products exceeds the food trade in Azerbaijan.

According to the Azerbaijani State Statistics Committee, in January-October the food trade (8.728 billion AZN) increased by 3.3 percent from year to year, while retail sales of non-food products (8.742 billion AZN) - by 16.1 percent. Over this period, every citizen of the country acquired consumer goods at 185.7 AZN per month, which is 17.4 AZN more than in January-October 2013.

Paid services worth 5.402 billion AZN were rendered to the population in January-October 2014 or 6.6 percent more compared to the same period of 2013. Legal entities ensured 61 percent of this growth and rendered the services worth 4 billion AZN.

Each citizen bought paid services worth 57.4 AZN per month in January-October 2014 or 3 AZN 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 October 2014, the prices on consumer goods and tariffs on services increased by 0.3 percent compared to the previous month and by 1.6 percent in January-October compared to the ten months of 2013.

Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 1.6 percent.

The prices for food increased by 0.6 percent, non-food goods and tariffs for services remained unchanged in Azerbaijan in October compared to the previous month.

The food prices increased by 1.1 percent, non-food products - by 3.6 percent, tariffs for services - by 0.4 percent in the reporting period of the year compared to January-October 2013.

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, remained unchanged compared to the previous month and increased by 1.8 percent for ten months compared to January-October 2013.

The food prices vary in Azerbaijan.

The prices on buckwheat, chicken, beef, vegetable oil, sugar, pasta, potatoes, cabbages, beets, carrots, apples and pears declined.

The prices on butter, milk, eggs, tea, salt, flour, bread, rice, semolina, garlics, onions, cucumbers, tomatoes, greens, plums, grapes and bananas increased.

The tariffs for air and rail passenger transportation reduced in October.

The industrial producer price index reduced by 8.9 percent in Azerbaijan in October 2014 compared to September. During this period, producer prices in the mining industry decreased by 10 percent, while in the manufacturing industry - by 1.7 percent.

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

Source: Azerbaijani State Statistics Committee