In October in Baku average prices of the consumer basket on 30 kinds of basic food products of domestic production, drawn up by Turan IA, increased by 2.2%.
Thus, the third consecutive month prices continued to move up. In September, prices rose by 2.4% in August - by 3%, and in July - by 1.4%. A decline of 1.04% was observed in June, by 2.8% in May and by 2.85% in April. The decline was due to the release of seasonal agricultural products to the market.
The prices first of all rose for the summer season products sharply declining in volumes - tomatoes (+ 257%), potatoes (+ 60%), apples (50%), cucumbers (+ 25%), yogurt (+ 11.2%), and white cheese (+ 4%).
Lamb (- 5.2%), chicken giblets (- 6.6%), and cookies (- 4.5%) became cheaper.
For other products the prices changed slightly or remained stable.
Due to the sharp decline in the market of seasonal products in October and an increase of customs duties on imports from 1 November, as expected, the increase in food prices was recorded. An even greater increase in prices is constrained by low purchasing power, which continues to fall due to the ongoing recession, rising unemployment and the falling manat.
|
Foods |
Prices by October 1, 2016 |
Prices by November 1, 2016 |
Change |
|
Beef |
9.0 |
9.0 |
0 |
|
Mutton |
9.50 |
9.0 |
- 0.50 |
|
Chicken |
3.30 |
3.30 |
0 |
|
Chicken giblets |
3.0 |
2.80 |
-0.20 |
|
Sturgeon |
35.0 |
35.0 |
0 |
|
Butter |
9.80 |
9.80 |
0 |
|
Corn oil (1 liter) |
3.60 |
3.60 |
0 |
|
Margarine |
5.20 |
5.20 |
0 |
|
Eggs (10) |
1.60 |
1.60 |
0 |
|
Granulated sugar |
1.30 |
1.30 |
0 |
|
Lump sugar |
1.80 |
1.80 |
0 |
|
Salt |
0.39 |
0.41 |
+0.02 |
|
Flour (Sort I) |
0.50 |
0.50 |
0 |
|
Vermicelli |
0.96 |
0.96 |
0 |
|
Buckwheat |
2.50 |
2.50 |
0 |
|
Macaroni |
0.96 |
0.96 |
0 |
|
Rice |
2.90 |
2.90 |
0 |
|
Milk (1 liter) |
1.30 |
1.30 |
|
|
Sour cream (100 grams) |
0.51 |
0.55 |
+0.04 |
|
Sour milk (1 liter) |
1.35 |
1.50 |
+ 0.15 |
|
White cheese |
5.0 |
5.20 |
0.20 |
|
Local biscuits |
2.20 |
2.10 |
-0.10 |
|
Potatoes |
0.50 |
0.80 |
+0.30 |
|
Onions |
0.30 |
0.35 |
+0.05 |
|
Cucumbers |
0.80 |
1.0 |
+0.20 |
|
Tomatoes |
0.70 |
2.50 |
+1.80 |
|
Cabbages |
0.35 |
0.40 |
+0.05 |
|
Apples |
0.40 |
0.60 |
+0.20 |
|
Green vegetables (1 bunch) |
0.20 |
0.20 |
0 |
|
|
104.92 |
107.13 |
+ 2.21 |
Markets Review
-
The construction materials market in Baku in November exhibited modest but varied shifts in pricing, influenced by local production, imports, and fluctuating supply chain conditions. While many categories remained stable, certain materials saw notable price adjustments, reflecting broader economic trends.
-
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%.
-
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.
-
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%.
Leave a review