In May in Baku, the average prices of the consumer basket on 30 kinds of basic food products of domestic production, composed by the agency Turan, were 2.8% down.
Already in April, there was a reduction by 2.85%. In March, the rise in prices was observed at 1.29%, and in February - by 0.9%. In January, after the second wave of devaluation of the manat, there was a decrease of 6.4%.
In May seasonal vegetables fell markedly: onions (-53), cucumbers (-50), potatoes (-43.7), tomatoes (-25), sugar (-14.7), milk (-7.6), and eggs (-7.5).
Cabbages (+ 15%) and chicken meat (+ 5%) rose. On other products prices generally remained stable.
In June, further decline in prices is expected due to seasonal vegetables and their growth in the diet.
|
Foods |
Prices by May 1, 2016 |
Prices by June 1, 2016 |
Change in percentage |
|
Beef |
7.0 |
7.0 |
0 |
|
Mutton |
8.0 |
8.0 |
0 |
|
Chicken |
2.80 |
2.95 |
+0.15 |
|
Chicken giblets |
2.90 |
3.0 |
+0.10 |
|
Sturgeon |
35.0 |
35.0 |
0 |
|
Butter |
8.90 |
8.90 |
0 |
|
Corn oil (1 liter) |
2.80 |
2.80 |
0 |
|
Margarine |
4.80 |
4.80 |
0 |
|
Eggs (10) |
1.30 |
1.20 |
-0.10 |
|
Granulated sugar |
1.15 |
0.98 |
-0.17 |
|
Lump sugar |
1.40 |
1.40 |
0 |
|
Salt |
0.35 |
0.35 |
0 |
|
Flour (Sort I) |
0.53 |
0.49 |
-0.04 |
|
Vermicelli |
0.85 |
0.85 |
0 |
|
Buckwheat |
2.30 |
2.30 |
0 |
|
Macaroni |
0.85 |
0.85 |
0 |
|
Rice |
2.39 |
2.39 |
0 |
|
Milk (1 liter) |
1.30 |
1.20 |
-0.10 |
|
Sour cream (100 grams) |
0.45 |
0.45 |
0 |
|
Sour milk (1 liter) |
1.35 |
1.30 |
-0.05 |
|
White cheese |
5.0 |
5.0 |
0 |
|
Local biscuits |
2.10 |
2.0 |
-0.10 |
|
Potatoes |
0.80 |
0.55 |
-0.35 |
|
Onions |
0.85 |
0.40 |
-0.45 |
|
Cucumbers |
1.0 |
0.50 |
-0.50 |
|
Tomatoes |
2.0 |
1.50 |
-0.50 |
|
Cabbages |
0.70 |
0.80 |
+0.10 |
|
Apples |
1.80 |
1.80 |
0 |
|
Green vegetables (1 bunch) |
0.20 |
0.20 |
0 |
|
|
101.87 |
98.96 |
-2.91 |
Markets Review
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In November 2024, the average price of a consumer basket (CB) for 30 basic domestically produced food items compiled by the Turan agency in Baku rose by 0.6%.
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In November 2024, the lending situation changed in two Azerbaijani banks. These banks revised the interest rates for both consumer and business loans offered in Azerbaijani manats.
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In November 2024, the situation regarding deposit acceptance in seven Azerbaijani banks changed. These banks revised their interest rates for deposits made in Azerbaijani manats, US dollars, and euros. For example, the annual interest rate for deposits in the national currency (Azerbaijani manat) for a one-year term is as follows: Accessbank: 9-11% to 8.5-11% ; International Bank of Azerbaijan: 10-11% to 10.5-11.5%; Azer-Türk Bank: 5-5.5% to 8-8.5%; Bank of Baku: 10.5-11% to 12%; Kapitalbank: 9-10% to 10-11%; Rabitabank: 7.5-11% to 7.5-11.5% ; Ziraatbank Azerbaijan: 7.5-8.5% to 8-9%.
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