In December prices for local food increased by 11.52%

In December, 2015 in Baku the average prices of the consumer basket on 30 kinds of basic food products of domestic production increased by 11.52%.

This is the highest rise of price since the beginning of the race last year. In November, prices fell by 0.35%, an increase of 0.45% was registered in October, in September (-1.5%) in August (+ 2.5%). In July and June (+ 0.10%) in May (+ 3.6%), April (+ 1.3%), March (-1%), February (+ 4.4%), January (- 2%).

In December, significantly rose prices for: cucumbers (+ 57.1%), tomatoes (+ 48.6%), potatoes (+ 38.8%), onion (+ 36.7%), apples (20%), sugar (36%), flour grade 1 (+ 28.5%), eggs (+ 27.7%), butter (+ 29.6%), corn oil (19.3%), rice ( + 18.3%), margarine (+ 16.3%), milk (+ 14.9%), yogurt (+ 7.8%), beef (+ 6.6%), lamb (+ 5.2% ).

Prices went up sharply after the devaluation of the manat on 21 December. However, we must note that it is also associated with the pre-Christmas expectations. For example, in the stable of December 2014, prices rose by 10.3% after a prolonged stagnation.

The increase in prices shows the high dependence on imported food market, whether it be food or ingredients (raw food) for their production.

It is expected that the price will remain stable until the next stage of the devaluation of the manat, which is expected in the event of falling oil prices. This can occur in the beginning of the year.