In a basket of food items for 30 kinds of products, 28 items got much more expensive: lamb (+ 5.2%), buckwheat (+ 42.2%), chicken giblets (+ 7.1%), chicken (+ 3.7%), sugar (7%), flour (+ 16.4%), rice (18.3), milk (16%), local cookies (+ 23.8%), cucumbers (+ 25%), butter (4.7%), margarine (+ 10%), white cheese (+ 9%), tomatoes (20%), and sunflower oil (4).
Prices fell only on eggs (-10%) and meat (-7.7%).
Against the background of a long period of price stagnation that lasted since last summer deflation, the prices surge in February is striking. There is no doubt that the outcome of February was seriously influenced by the 21 February decision of the Central Bank on the devaluation of the manat by 33%.
The first days of March show the continuing rise in prices, which will affect all types of food. Azerbaijan is 60% dependent on imports of food or raw materials for food production.
The dynamics of price changes in percentage terms was as follows: (in AZN per 1 kg):
Name of the product | 29.08.2014 | 29.09.2014 | 29.10.2014 | 28.11.2014. | 30.12. 2014. | Percentage 2008-2014 | 30.01. 2015. | Percentage 2014 12. 30. | 1.03. 2015. | Percentage 2015 01.30. |
Beef | 8.0 | 7,5 | 7,5 | 8.0 | 8.0 | 0 | 7.0 | -1.0 | 6.5 | -0.50 |
Mutton | 9.0 | 9,0 | 10,0 | 10.0 | 10.0 | 0 | 9.0 | -1.0 | 9.5 | +0.50 |
Chicken | 2.6 | 2,6 | 2,5 | 2.5 | 2.70 | +0.20 | 2.6 | -0.10 | 2.7 | +0.10 |
Chicken giblets | 3.2 | 3,0 | 3,0 | 3.0 | 3.0 | +0 | 2.6 | -0.40 | 2.8 | +0.20 |
Sturgeon | 32.0 | 35,0 | 37,0 | 38.0 | 35.0 | -3.0 | 35.0 | 0 | 35.0 | 0 |
Butter | 5.9 | 6,49 | 6,48 | 6.48 | 6.50 | +0.02 | 6.48 | -0.02 | 6.80 | +0.32 |
Corn oil (1 liter) | 2.8 | 2,47 | 2,43 | 2.43 | 2.45 | +0.02 | 2.35 | -0.10 | 2.45 | +0.10 |
Margarine | 1.8 | 2,89 | 2,94 | 2.94 | 3.0 | +0.06 | 3.30 | +0.30 | 3.30 | 0 |
Eggs (10) | 0.7 | 0,90 | 0,90 | 1.10 | 1.0 | -10.0 | 1.0 | 0 | 0.90 | -0.10 |
Granulated sugar | 0.9 | 0,81 | 0,80 | 0.83 | 0.90 | +0.07 | 0.90 | 0 | 0.90 | 0 |
Lump sugar | 1.5 | 1,50 | 1,52 | 1.52 | 1.52 | 0 | 1.58 | +0.06 | 1.70 | +0.12 |
Salt | 0.3 | 0,37 | 0,34 | 0.35 | 0.35 | 0 | 0.35 | 0 | 0.35 | 0 |
Flour (Sort I) | 0.5 | 0,47 | 0,49 | 0.45 | 0.50 | +0.05 | 0.56 | +0.06 | 0.67 | +0.11 |
Vermicelli | 0.77 0.5kq | 0,72 0,5kq | 0,75 0,5kq | 0.75 | 0.78 | +0.03 | 0.72 | -0.06 | 0.75 | +0.03 |
Buckwheat | 2.1 | 1,99 | 1,80 | 1.82 | 2.10 | +0.28 | 1.60 | -0.50 | 2.80 | +1.20 |
Macaroni | 0.85 0.5kq | 0,58 0,5kq | 0,62 0,5kq | 0.62 | 0.70 | +0.08 | 0.72 | +0.02 | 0.80 | +0.08 |
Rice | 1.5 | 1,85 | 1,85 | 1.85 | 1.88 | +0.03 | 1.98 | +0.10 | 2.20 | +0.22 |
Milk (1 liter) | 1.2 | 0,80 | 0,80 | 0.90 | 1.0 | +0.10 | 1.0 | 0 | 1.20 | +0.20 |
Sour cream (100 grams) | 0.3 | 0,22 | 0,48 | 0.45 | 0.45 | 0 | 0.44 | -0.01 | 0.48 | +0.04 |
Sour milk (1 liter) | 1.3 | 1,35 | 1,49 | 1.42 | 1.40 | -0.02 | 1.23 | 0.17 | 1.30 | +0.07 |
White cheese | 4.5 | 4,0 | 4,40 | 4.40 | 4.40 | 0 | 4.80 | +0.40 | 4.90 | +0.10 |
Local biscuits | 1.8 | 2,20 | 2,20 | 1.80 | 1.90 | +0.10 | 1.60 | -0.30 | 2.10 | +0.50 |
Potatoes | 0.7 | 0,70 | 0,80 | 1.0 | 0.90 | -0.10 | 1.0 | +0.10 | 1.0 | 0 |
Onions | 0.35 | 0,40 | 0,50 | 0.50 | 0.50 | 0 | 0.60 | +0.10 | 0.75 | +0.15 |
Cucumbers | 0.70 | 0,80 | 0,70 | 1.00 | 1.50 | +0.50 | 1.50 | 0 | 2.0 | +0.50 |
Tomatoes | 0.8 | 1,50 | 2,80 | 1.50 | 2.0 | +0.50 | 2.50 | +0.50 | 2.50 | 0 |
Cabbages | 0.6 | 1,00 | 0,90 | 1.00 | 1.0 | 0 | 1.0 | 0 | 1.0 | 0 |
Apples | 0.8 | 0,45 | 0,50 | 0.70 | 1.0 | +0.30 | 1.0 | 0 | 1.20 | +0.20 |
Green vegetables (1 bunch) | 0.15 | 0,20 | 0,20 | 0.20 | 0.20 | 0 | 0.20 | 0 | 0.20 | 0 |
Economics
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
-
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
Leave a review