ERC presents the results of the statistical surveys during the May of 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 May of 2012. According to the results of the statistical surveys, deflation was recorded during the May of the current year due to seasonal factors. As consumer prices decreased 0.56% during the previous month in the country. This decrease was stemmed from downward movements of food product prices: food product prices decreased 1.19%, non-food product prices increased 0.17% and prices of services appreciated 0.20%.
Consumer Prices Index decreased 0.29% and 0.82% in comparison with the April in Baku and in the regions respectively. Furthermore, food product prices went down by 0.78% in Baku and declined 1.58% in the regions, non-food product prices increased by 0.23% in Baku and 0.12% in the regions and prices of services appreciated 0.36% in Baku and 0.04% in the regions. The highest price decreases were observed on eggplant (36.00%), green bean (30.88%) and apricot (17.51%) and strawberry (15.67%). But price increases were recorded on carrot (9.79%), onion (9.78%), t-shirts (9.23%) and other products.
During the first five months of the year the recorded inflation for overall country was 0.40%, 1.49% inflation for Baku and 0.67% deflation for regions. Additionally, food prices increased 0.66% during the mentioned period of 2012. Within the same period, the increase was 1.49% and the decrease was 0.99 % for service and non-food product prices respectively.
The overall price level increment was 6.79% for the country, comparing the same period of the previous year (12 months). During the period price levels increased 10.00% and 3.63% in Baku and in regions respectively. In the stated period, the highest inflation again was observed on food products (10.69%). The price increase constituted 0.55% and 4.81% 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 168.16 AZN, 150.27 AZN, 208.55 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 104.02 AZN, 92.20 AZN and 117.29 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 38.66 AZN, 35.46 AZN and 73.53 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.
PR department of ERC