Food Prices Went Up Again

The Public Association Center of Economic Research (CER) published the results of alternative statistical surveys of consumer prices from July to August. Also, they took into account the results from the beginning of the year and the comparison period in the past year. This is an objective indicator calculated from the international system of calculating the relative amount of risk (VAR).

As the executive director Ghalib Togrul said, last month, again there was a slight average increase in prices. Observations were conducted in 10 regions of the country (last year it was 22).

According to them, in the hottest summer month, consumer prices rose in Azerbaijan as a whole at 1.32%, which is not peculiar to this time of year. Interestingly, in Baku, prices rose by 1.51%, and in the regions - by 1.14%.

For food products the increase was 2.18%, that is, in Baku - 2.48% and in the country - 1.88%. Non-food products recorded a fall in prices by 0.23% - in Baku 0.43%, and in the regions 0.04%. Fees for services changed insignificantly; in the capital there was increase of 1.40% and in the regions there was increase by 0.69%.

Since the beginning of the year (January-July) was recorded the relative increase in consumer prices by 1.41% (in the capital at 2.83% and in the regions at 0.07%). Food increased in price by 2.23%, services – by 2.72%, and non-food items fell by 1.19%.

Food inflation for the twelve months compared to the same period last year amounted to 7.72%. Food prices grew by 12.50%, services – by 5.66%, non-food items fell by 0.11%.

In Baku, the price rose by 10.61% and in the regions - by 4.89%.