Finance

Home page

Finance

ERC: Annual inflation exceeds 16.4% in Azerbaijan

06 September 2011 12:32 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Econmomics. Economic Research Center (ERC) presents the results of prices of statistical observation conducted in 10 regions of Azerbaijan in July with financial support of the Open Society Institute Assistance Foundation.

he results of statistical observations show that the consumer price index has been increased by 0.25 % within July in Azerbaijan. During this time the price of food products increased by 0.33 %, of non-food products by 0.06% and of services by 0.28%. During the month of July compared to June , the consumer price index through the capital and the regions, increased by 0.37% in Baku and by 0.13% in regions. Price of good products increased by 0.56% in Baku, by 0.11% in regions. Price of non-good products increased by 0.07% and by 0.05%, and price of services increased by 0.31% and by 0.24%. During July, the most significant rise in price was observed among sugar (8.44 %), macaroni (7.32%), boneless beef (5.75%), butter (4.06%), 585 standard gold ring (6.52%).

In spite of a general price increase, decrease in prices of some goods and services was registered. For example, price of melon decreased by 55.31 %, of peach by 32.07 %, of banana by 12.24 %, parquet lacquer by 11.80 %, women haircut by 1.46 %. Compared with the same period of the last year (12 months), 15.54% increase in prices was registered in the country. In this time prices in Baku increased by 19.34 % and by 11.80% in the regions. In the mentioned period, the highest inflation was registered in food products (26.39 %). Non-food products increased by 3.81%, and services by 3.96%.

On July 2011 consumer price index increased by 5.49%,including increase of good products by 8.44%,of non-good products by 1.52%,and of services by 2.79%. Based on the regulations approved by the Cabinet of Ministers on April 30,2009 ,experts of ERC also calculate the value of the minimum consumer basket for each month.According to these estimates, in July for the able-bodied population of Azerbaijan, per capita value of the minimum consumer basket totaled AZN 162.87, for pensioners - AZN 147.22, and for 0-14 aged children -AZN 204.27. Last month, able-bodied population of Azerbaijan spent minimum 100.81 AZN, pensioners -AZN 90.63, parents of 0-14 aged childrenâ€“AZN 116,38 ,on food per capita. During that month,working population of Azerbaijan spent minimum AZN 36.74, pensioners â€“AZN 34.15, parents of children 0-14 aged â€“AZN 70.33 ,on non-food goods per capita,and respectively on services working population spent AZN 25.32 per capita , pensioners â€“AZN 22.44 and parents of 0-14 aged childrenâ€“AZN 17.56.