Consumer market
In November 2006 a rise of the retail goods turnover got restored amid continuing rise of the community services and was 20.4%. In January to November the amount of retail goods turnover comprised 5121.5mln manats, or 12.8% up as compared to last year. The commercial services delivered to population comprised 1242.1mln manats, or 41.3% up as compared to last year.
Prices
In January to November the growth pace of inflation was 8% as compared to 2005, when it was at 9.9%. The consumer prices rose 11.5% in November as compared to 2005.
Inconsiderable rise in the growth pace of inflation was caused by intensification of the growth pace of prices of all goods. Thus, in November the food prices rose 12.9% as compared to December. Rise in prices was 11.5% in January to November 2006 as compared to last year. Rise in prices of non-food products was more considerable than food prices. Thus, in October the prices of non-food products increased 6.3% as compared to December. Rise in prices as compared to last year was 5.1%.
According to the econometric model of the National Bank of Azerbaijan (NBA), over January-November, 2006, the share of monetary funds in the formation of 9%-inflation made up 64.1%.
Growth of monetary factors in this period was linked with the conversion of the currency by the Bank, with 92% implemented with respect to finance the budget expenses. Increase of money mass was 62.3%.
The considerable growth occurred in the period from January to September (81.5%). The nominal efficient rate on the non-oil sector of economy made up 1.8 percent, while rise over the first 9 months of 2006 was 2.4%.
In difference to previous months, non-monetary factors had insignificant influence on the inflation rate (35.9%). The share of administrative regulated prices in the reporting period made up 26.3%, which is connected with the diesel fuel price increase in January вЂ" by 2 times, kerosene вЂ" 1.3 times, sugar вЂ" 34.8%. The influence of seasonal factors was at the level of (-5.2%), where due to summer, the prices in May-August, 2006 decreased by 4%. Whereas, due to winter, the prices increased by 3,6% in January-April and September-November, which decreased inflation rate on 5.2%.
The share of foods in the formation of the inflation in November, 2006 versus the beginning of the year made up 77.4%. The share of bread and bakery foods - 5.2%, meat and meet foods вЂ" 19.1%, fruits and vegetables вЂ" 32.6%, oil and fat вЂ" 1.3%, milk and eggs вЂ" 10.6%, sugar, tea вЂ" 8.5%, alcohol and tobacco вЂ" 0.2%. In the reporting period, the share of nonfoods in the formation of the inflation rate was 17.9%, services вЂ" 4.6%.