Independent inflation rate for the first 2 months of 2024

CESD has finalized the monitoring results of consumer price index (CPI) for February 2024. For the first time in the last 2 years, the price of non-food products in the consumer market has increased more than food products. This is associated with the optimization of food demand and the reduction of import inflation. Annual inflation for non-food products in January and February was 2.7 %. Overall, according to independent monitoring, prices increased by 2.3 %.


Price increases were also observed in the housing market. An increase in the demand for private courtyard houses was observed in February. A 1.8 % price increase was recorded in private houses and plots of land compared to the previous month. Demand in residential buildings and non-residential areas is still stable. 0.4 % monthly price increases were observed in apartments in residential buildings. The price in non-residential areas recorded a monthly price increase of 0.9 %. Prices in the rental market have not changed.


In February 2024, the number of orders in wedding halls increased by only 2.1 %. At the same time, prices in wedding halls increased by 3.8 % in February. Especially the prices of menus up to 40 manats have increased more: 5.1 %. The price of menus with a price of 40-80 % increased by 2.6 %. A 3.7 % increase was recorded in the price of menus with a value of more than 100 manats.


A slight increase in prices was recorded in the car market: 0.9%. Thus, the price of cars up to 30.0 K manats increased by 1.6 %  in February. Although the demand for more expensive cars using AI-95 gasoline has decreased, the price of those cars has not changed. As a whole, stagnation continued in the automobile market.


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