Five-Year Analysis Reveals Significant Food Price Increases in Baku

In a comprehensive analysis conducted by the Turan agency, the cost of a consumer basket consisting of 30 essential food items in Baku over the past five years has witnessed a substantial increase. The findings, spanning from 2019 to 2024, underscore a notable trend of rising prices, with certain staple items experiencing dramatic hikes.

According to the report, the average price of the consumer basket has surged by 29.9% during the specified period, indicating a considerable strain on household budgets and purchasing power. Among the key contributors to this upward trajectory are dairy products and fresh produce, with yogurt, apples, tomatoes, white cabbage, and sour cream registering staggering price hikes.

Yogurt emerged as the frontrunner in terms of price escalation, witnessing a remarkable spike of 143%, followed closely by apples at 138%. Tomatoes and white cabbage experienced a doubling in prices, each recording a significant increase of 106%, further exacerbating the affordability challenges faced by consumers.

The inflationary pressures extend beyond perishable goods, with essential pantry staples also bearing the brunt of price surges. Sugar and pasta prices surged by 66% and 61%, respectively, adding to the financial burden on households. The report also highlights notable increases in the prices of meat products, with beef and mutton recording upticks of 42% and 38%, respectively.

Despite the overarching trend of rising prices, a few exceptions were observed, albeit limited in scope. Cucumbers and buckwheat experienced substantial price decreases of 61%, offering a slight reprieve to consumers. Additionally, greens witnessed a modest decline of 15%, while rice prices remained relatively stable with a marginal decrease of 1%.

The data further reveals a concerning trend wherein a significant majority of the consumer basket, comprising 87% of the 30 products, exhibited price growth over the five-year period. This pervasive inflationary trend underscores systemic challenges within the food supply chain, including factors such as production costs, distribution inefficiencies, and external market dynamics.

While monthly and annual reports may depict fluctuations and occasional stability in food prices, the longitudinal analysis underscores the sustained upward trajectory, posing formidable challenges for consumers. The cumulative impact of rising food prices on household budgets necessitates proactive measures from policymakers to alleviate the burden on vulnerable segments of society.

Addressing underlying structural inefficiencies and fostering greater transparency within the food supply chain are imperative to promote affordability and accessibility of essential food items for all residents of Baku.