Bank Of Baku

Azerbaijan restructures consumer basket

Azerbaijan restructures consumer basket
# 17 September 2008 15:22 (UTC +04:00)
Baku. Ilhama Isabalayeva – APA-Economics. The workgroup has prepared proposals on the restructuring of the consumer basket in Azerbaijan, said Chingiz Tagiyev, Officer of the Labor Unions Confederation.
He added that the package is subject to approval by the Government.
“We proposed to increase the basket to 2 450 kcal from 2 200 kcal and expand the variety of foodstuff, nonfoods and services in the basket,” he added.
Under subsistence wage law, the basket of consumer goods has to be reconsidered every three years.
The consumer basket was last determined as a set of food products producing 2200kcal a day. If approved, the new basket will be effective in 2009.
As at July 1, the value of consumer basket is AZN 143 for the economically active population, AZN 75for pensioners and AZN 89 for children (0-15 ages).
The average consumer basket is AZN 126.
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