State Statistics Committee of Azerbaijan in July once again recorded a deflation. Consumer prices compared to June fell by an average of 0.7%.
According to official data, food prices in July fell by 1.7%. Paid services went up by 0.1%. Non-food prices remained stable in June.
In the past month fell flour, buckwheat, lamb, fish, milk, corn oil, sugar and granulated sugar, some fruit (bananas, apples, pears, etc.) and vegetables (cucumbers, tomatoes, eggplants, peppers, onions, and beetroots).
In July, members of GCS also found evidence of price increases for beef, chicken, sausage, sour cream, eggs, butter, and non-seasonal fruits (lemons, cherries, strawberries).
It was also recorded increase in ticket prices for air and rail passenger services.
Deflation is observed in Azerbaijan in May and lasts for three months. In May, food prices fell by an average of 0.4%, June - 1.1%. Against the background of a stable macroeconomic indicators and increase imports to decline in prices is a feature of the summer season.
This year Azerbaijan has no alternative calculation of inflation, which had previously served as NGO Center for Economic Research. Therefore, we can assume that the official statistics and will take advantage of this factor in the reflection process on the consumer market. The government forecasts inflation in 2013 at the level of 5%. However, trends show that the official inflation rate is below that figure. For six months, inflation was fixed at 2%. - 08D -
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