In March, food inflation was negligible - at the end of the month to raise retail prices of flour (25%), fresh fish (15%), and canned vegetables domestic production (15-20%). Also rose feta cheese (10%) and yoghurt or gatyg (12%). In addition, the agricultural products affected seasonal factors - cabbage in the market last month has risen from 0.9 to 1.3-1.5 manats per 1 kg, beetroot, radishes and beets - from 0.5 to 0.8-1 manats and a bunch of greens - from 0.1 to 0.15 manat.
By Novruz most imported fruit rose, including apples (30%) and citrus (20%), as well as local and hazelnuts (20%). Immediately after the holiday prices for products that do not enjoy the massive demand, back on track.
Experts believe that the increase in the cost of flour will lead to a significant increase in prices for flour and bakery products by the end of the third quarter of this year, which will reduce the demand for them among the poor.
According to State Statistics (data for March are not yet available), in January-February consumer price inflation at an annual rate was 2.1% with core inflation of 1.5%. Compared with inflation rates by 1 March last year to this year, food prices rose by 2.4%, non-food products - 3.5%, paid services - 0.2%.
From the beginning, the State Committee of Statistics of the biggest changes recorded in February, when prices for many types of food. Even according to official statistics, long before Novruz prices for butter (12.5%), cheese (8.3%), milk (9.9%), tea (4.8), eggs (37.8%), and salt (7.1%). Consumers felt particularly higher prices of potatoes (2 times), onions (74.4%), cabbage (33.4%) and green (31.3%).
The real inflation has several tangible factors. The most visible factor is increasing government rates (average 33%) on excise goods, including gasoline and diesel 3 December 2013. The most effective factor is a monopoly on all kinds of import and storage and processing of local agricultural products.
Calculation of the State Statistics Committee of inflation can not be credible because the base is based on the consumer price index, emerging due to price changes, excluding seasonal factors and goods whose prices are regulated by the state. By inflation in Azerbaijan apply the term "stagflation" when inflation is accompanied by stagnation of production, low employment and simultaneous increase in prices. - 17D-
Name of the product | Baku | Percentage | Nakhchivan | Percentage | Ganja | Percentage | Lenkoran | Percentage | Mingechevir | Percentage | Guba | Percentage |
Beef | 8,5 | - | 8 | - | 8 | - | 8 | - | 8 | - | 8 | - |
Mutton | 10 | - | 9 | - | 9 | - | 9 | - | 9 | - | 9 | - |
Chicken | 2,8-3,3 | - | 3,50 | - | 3,30 | - | 3,4 | - | 3,3 | - | 3,4 | - |
Chicken giblets | 2,6-3 | - | 3 | - | 3 | - | 3,1 | - | 3 | - | 3 | - |
Sturgeon | 30 | - | 35 | - | 30 | - | 25 | - | 25 | - | 25 | - |
Butter | 6,3 | - | 6,4 | - | 6,4 | - | 6,4 | - | 6,4 | - | 6,4 | - |
Corn oil (1 liter) | 2,4 | - | 2,5 | - | 2,50 | - | 2,50 | - | 2,50 | - | 2,5 | - |
Margarine | 2,4 | - | 2,4 | - | 2,5 | - | 6,5 | - | 2,6 | - | 2,6 | - |
Eggs (10) | 1,3 | - | 1,20 | - | 1,20 | - | 1,10 | - | 1,30 | - | 1,20 | - |
Granulated sugar | 1,0 | - | 1,1 | - | 1,1 | - | 1,1 | - | 1,1 | - | 1,1 | - |
Lump sugar | 1,4 | - | 1,5 | - | 1,5 | - | 1,4 | - | 1,4 | - | 1,2 | - |
Salt | 0,3 | - | 0,25 | - | 0,25 | - | 0,25 | - | 0,3 | - | 0,2 | - |
Flour (Sort I) | 0,5 | +25 | 0,5 | +25 | 0,5 | +25 | 0,5 | +25 | 0,5 | +25 | 0,5 | +25 |
Vermicelli | 0,9 | - | 1 | - | 1 | - | 1 | - | 1 | - | 1,1 | - |
Buckwheat | 0,9 | - | 0,9 | - | 0,9 | - | 0,90 | - | 0,8 | - | 0,9 | - |
Macaroni | 0,9 | - | 1 | - | 1 | - | 1 | - | 1 | - | 1 | - |
Rice | 1,2 | - | 1,2 | - | 1,1 | - | 1,2 | - | 1,1 | - | 1,2 | - |
Milk (1 liter) | 1,3 | - | 1 | - | 1,10 | +10 | 1 | - | 1,2 | - | 0,8 | - |
Sour cream (100 grams) | 1,2 | - | 0,8 | - | 0,8 | - | 0,8 | - | 0,8 | - | 0,8 | - |
Sour milk (1 liter) | 1 | +12 | 0,80 | +10 | 0,80 | +15 | 0,9 | +17 | 0,8 | - | 0,7 | +15 |
White cheese | 4,5 | +10 | 3 | - | 3,30 | +10 | 2,6 | - | 3 | - | 2,2 | - |
Local biscuits | 2,4 | - | 2,4 | - | 2,3 | - | 2,2 | - | 2,4 | - | 2,2 | - |
Potatoes | 0,8 | - | 0,75 | +7,1 | 0,8 | - | 0,7 | - | 0,8 | - | 0,7 | - |
Onions | 0,7 | - | 0,75 | +7,1 | 0,7 | - | 0,7 | - | 0,7 | - | 0,7 | - |
Cucumbers | 1,2 | +20 | 1,0 | +30 | 1,0 | +30 | 1,0 | +40 | 1,20 | +20 | 1,20 | +20 |
Tomatoes | 1,8 | +20 | 1,70 | +40 | 1.80 | +50 | 1,50 | +25 | 1,80 | +38 | 1,80 | +30 |
Cabbages | 1,3 | +20 | 0,8 | -20 | 0,70 | -30 | 0,60 | -25 | 0,7 | -30 | 0,80 | -20 |
Apples | 0.50 | -50 | 0,50 | -50 | 0,50 | -50 | 0,50 | -50 | 0,5 | -50 | 0,50 | - |
Green vegetables (1 bunch) | 0,2 | - | 0,1 | - | 0,1 | - | 0,1 | - | 0,1 | - | 0,2 | - |
Economics
-
Kazakhstan’s budget airline FlyArystan has launched ticket sales for the Baku-Astana-Baku route ahead of the summer travel season, the airline’s press service said on Monday.
-
In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
-
Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
-
BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
Leave a review