Inflation eats up incomes of poor people

The State Statistics Committee has published results of a survey of households for the first half of the year, the indices of which differ little from those recently disclosed in the first quarter. According to official data, household incomes for the first three deciles do not exceed the subsistence minimum for 2023. According to the document https://stat.gov.az/source/budget_households/az/bul/bul_evtes_2023_1-6.pdf grouping families and other households by income deciles, the first decile of households had a monthly per capita income of 183.4 manats in the first half of this year, the second 10% of the following families had incomes of 218.9 manats per family member. The third vulnerable decile subgroup had 249.5 manats per capita in the first half of this year. This is only 3.5 manats more than the subsistence level of the subsistence minimum established by the legislative body. At the same time, it should be taken into account that in the first half of this year, consumer prices in Azerbaijan rose by an average of 12.7%. As a whole, independent economists are suspicious of such official studies. In their opinion, this analysis does not fully reveal the picture of the stratification of society, since, according to official calculations, there is only a 3.7-time gap between the tenth (rich segments of the population) and the first (families with incomes below the poverty level). The survey was conducted in accordance with the recommendations and methodology of the European Bureau of Statistics and the World Bank among 10 510 households of the country, according to SSC.

Source: Turan News Agency