ECONOMY


® Veyseloglu Group of Companies announces its monthly retail price index

Baku, March 10, AZERTAC

Veyseloglu Group of Companies (VGC) has published its monthly retail index for February 2022. According to the latest report published by the Group, the figure for February is 108,1%. This figure, known as the Veyseloglu Retail Index, represents the changes in the price of the products with the highest consumer demand sold across the Group’s retail outlets (Araz and Oba supermarket chains).

The index indicates the dynamics in the overall price level of the most purchased products by the company’s customers over the past 24 months. It is important to note that this index does not represent a precise level of inflation.

The overall cost of the most purchased products in February 2022 was higher by 12,6% compared to February 2021. According to the latest figures, the prices of fresh/perishable products increased by 12,8%, the prices of non-perishable (dry, bulk, frozen foods, confectionery and soft drinks) products increased by 13,5%, and the prices of alcoholic beverages and tobacco products increased by 10,0%.

Veyseloglu Retail Index has become popular amongst financial institutions and the expert community, as it provides a reliable alternative source of data in measuring consumers’ purchasing power. It also aims to assist ordinary consumers in budgeting for their monthly purchases.

Veyseloglu Group of Companies (VGC) is a progressive and multi-faceted FMCG group that encompasses various areas of the supply chain, from production, to distribution, to logistics, to direct interaction with customers through its supermarket chains (Araz and Oba). VGC genuinely believes in sustainable business models and constant innovation to ensure efficiency and driving long-term value for all stakeholders.

Please contact [email protected] if you need any further information about the Veyseloglu Retail Index.

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