In August, Deflation Persisted

The State Statistics Committee of Azerbaijan registered deflation from May to August. A source in the committee told Turan that consumer prices in August fell by an average of 0.3 % against July.

It is noteworthy that the prices of some food products in August jumped immediately after the announcement of an increase in wages of employees of budgetary institutions by an average of 10%.

According to official data, food prices in August fell by 0.8 %.

Last month, the committee recorded a rise in prices for meat (beef, lamb, chicken) and sausages, sour cream, eggs, butter, beans, carrots, cucumbers, lemons and herbs.

Independent observers say that in the last days of August beef, lamb, onions, potatoes, and off-season vegetables rose sharply. The experts, in turn, believe that this is a temporary phenomenon and the work of speculators.

According to the committee, in August fell flour, buckwheat , milk , sugar and granulated sugar , certain fruits (apples , peaches , grapes , etc.) and vegetables (cucumbers , tomatoes, eggplants , peppers , onions, beetroots, garlic, and cabbages) .

Paid services went up by 0.1 %. Non-food prices in August remained stable.

In August, continued the trend of rising prices for air tickets to passengers.

Deflation is observed in Azerbaijan in May and lasts four months. In May, food prices fell by an average of 0.4 %, in June - by 1.1% and in July - by 0.7 %.

The government forecasts inflation in 2013 at the level of 5%. -08D-