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
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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