Annual inflation in Azerbaijan disclosed

From January to August 2024, Azerbaijan saw an increase in the consumer price index (CPI) of 101.3% compared to the same period last year. The CPI for food products, beverages, and tobacco increased by 100.1%, while non-food products and paid services provided to the population rose by 101.3% and 103%, respectively, Azernews reports citing the State Statistics Committee.

In August 2024 alone, the CPI rose by 103.5% compared to August 2023. The CPI for food products, beverages, and tobacco was up by 103%, non-food products by 101.8%, and paid services by 105%. Compared to the previous month, the overall CPI in August increased by 100.4%, while the CPI for food, beverages, and tobacco remained stable at 100%.

Changes in Food Prices

Several food products saw significant price increases in August. These included long and round rice, beef and mutton, sausage products, butter, olive oil, lemon, cucumber, garlic, onion, and potato. Meanwhile, prices fell for flour, buckwheat, eggs, sunflower and corn oils, apples, pears, plums, peaches, watermelons, hawthorns, pumpkins, sweet peppers, eggplants, green beans, and table beets. There were no notable changes in the prices of other food products.

Non-Food Goods and Paid Services

The CPI for non-food goods in August was 100.1% compared to July 2024. Increases were seen in the prices of items such as sawn timber, bricks, cement, and jewelry. Prices for other non-food items showed no significant changes.

For paid services, the CPI rose by 101.3% compared to the previous month. Price hikes were observed in carpet cleaning services, internet services, and international passenger transportation services by air to countries outside the CIS. Conversely, a decrease was noted in air transport services to CIS countries. Other paid services saw no substantial price changes.

These figures reflect the broader economic trends in Azerbaijan, highlighting fluctuations in the costs of essential goods and services over the past months.