Deflation was recorded during the April 2012

Economic Research Center (ERC), presents the results of the statistical surveys conducted in 10 regions of Azerbaijan with the financial support of Open Society Institute Assistance Foundation during the April of 2012. According to the results of the statistical surveys, deflation was recorded during the April of the current year. As consumer prices decreased 0.15% during the previous month in the country. This decrease was stemmed from downward movements of food product prices: food product prices decreased 0.47%, non-food product prices increased 0.13% and prices of services appreciated 0.34%.

 

Consumer Prices Index rose 0.24% in Baku, but decreased 0.54% in the regions in comparison with the March and overall price movements resulted in deflation in the April. Furthermore, food product prices went up by 0.06% in Baku and declined 1.00% in the regions, non-food product prices decreased 0.02% in Baku and increased 0.27% in the regions and prices of services appreciated 1.05% in Baku and depreciated 0.37% in in the regions. The highest price decreases were observed on cherry-plum (11.48%), sturgeon (11.11%) and potato (10.66%) and chicken egg (4.21%). But price increases were recorded on greenhouse tomato (16.59%), fresh potato (8.23%), dance teaching services (8.22%) and other products.

 

During the first four months of the year the recorded inflation for overall country was 0.96%, for Baku was 1.79% and for regions was 0.15%. Additionally, food prices increased 1.86% during the mentioned period of 2012. Within the same period, the increase was 1.29% and the decrease was 1.16 % for service and non-food product prices respectively.

The overall price level increment was 6.57% for the country, comparing the same period of the previous year (12 months). During the period price levels increased 9.63% and 3.56% in Baku and in regions respectively. In the stated period, the highest inflation again was observed on food products (10.21%). The price increase constituted 0.70% and 4.79% for non-food and services products respectively.

Additionally, the experts of ERC calculated the value of minimum consumption bundle according to the spotted prices in the 10 regions in conformity with the decision of Cabinet of Ministers which was dated to April of 2009. In the light of above mentioned calculations, during the month, the value of per capita minimum consumption bundle was 170.00 AZN, 151.69 AZN, 210.73 AZN for labor forces, retired people and for children aged from 0 to 14 respectively. In the previous month, labor forces, retired people and parents of children aged from 0 to 14 had to spend 106.03 AZN, 93.82 AZN and 119.30 AZN respectively for food expenses on the per capita basis. During the mentioned month, with the spotted price level, minimum non-food product expenses for economically active people, retired people and 0-14 aged children constituted 38.49 AZN, 35.26 AZN and 73.70 AZN respectively and minimum expenses for services constituted 25.48 AZN, 22.61 AZN and 17.73 AZN respectively.

 

It should be noted that according to the law of “About the living minimum in Azerbaijan Republic for 2012” the living minimum was determined as 108AZN, however, for labor forces, retired people and for children it was 116 AZN, 84 AZN and 87 AZN respectively.