Prices and situation in consumer market in Azerbaijan (January-August 2016)

According to the State Statistics Committee, as of January-August 2016, the Azerbaijani consumer market amounted to 23.866 billion manat, which is 2 percent more than its turnover for the same period of 2015. The monthly consumer expenses are estimated at 310.1 manat per capita in January-August 2016 or by 34.5 manat more compared to January-August 2015.

The Azerbaijani trading networks sold consumer goods to the population at 18.464 billion manat in January-August 2016, which is 2.2 percent more than in the same period of 2015. Legal entities ensured 11.3 percent of trade turnover.

The monthly retail trade turnover amounted to 239.9 manat, which is 30.9 manat more than in January-August 2015.

The food trade (9.184 billion manat) increased by 3.2 percent from year to year, while retail sales of non-food items (9.280 billion manat) - by 0.8 percent in January-August 2016.

The commodity market in the country is developing mainly due to inflationary factors.

Paid services worth 4.683 billion manat were rendered to the population in January-August 2016 or 0.9 percent more compared to January-August 2015. Legal entities ensured 73.9 percent of this growth and rendered the services worth 3.459 billion manat or by 5.5 percent more than in 2015.

Over this period, every citizen of the country acquired paid goods at 486.8 manat per month, which is 21.5 manat more than in January-August 2015.

Transportation, public utilities and communication services prevail in the structure of paid services.

Prices

According to the State Statistics Committee, inflation in the country amounted to 10.8 percent in January-August 2016 compared to January-August 2015.

The food prices increased by 12.2 percent, non-food items – 15.6 percent and tariffs for services – 4.9 percent in January-August 2016.

Such a high rate of inflation in the country was the result of the impact of national currency devaluation.

The prices on consumer goods increased by 0.5 percent in Azerbaijan in August 2016 compared to July 2016.

The food prices increased by 0.6 percent, non-food items - by 0.5 percent, tariffs for services – 0.4 percent in Azerbaijan in August 2016 compared to July 2016.

The prices on rice, flour, bread, buckwheat, barley, oats, beef, mutton and chicken, dairy products, eggs, butter and vegetable oil, sugar and granulated sugar, lemons, cabbage, carrots, green beans, beets, garlic, greens and tobacco increased in Azerbaijan for the month.

The prices on fish products, apples, pears, bananas, plums, peaches, grapes, tomatoes, cucumbers, eggplants, sweet peppers, onions and potatoes decreased.

The prices on other food products were not greatly changed.

The prices on fabrics, clothing and footwear, building materials, jewelry, furniture and household goods, carpets and other floor coverings, glass products, dishes and cutlery, household appliances, televisions, telephones and cameras, stationery, as well as cars and spare parts increased.

Other non-food items were not greatly changed.

The tuition fees at universities, international air and rail passenger transportation services, as well as the cost of tours to the foreign countries increased in August. The cost of other paid services has not been changed.

The base index of consumer prices, calculated except for the goods and services subject to seasonal changes (fruits and vegetables) increased by 12.2 percent in January-August 2016 compared to January-August 2015.

The industrial producer price index increased by 6.2 percent in Azerbaijan in August 2016 compared to August 2015. A 12.9 percent growth was observed compared to January-August 2015.

During this period, producer prices in the mining industry increased by 7.8 percent and decreased by 0.3 percent in the manufacturing industry for the month.

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