NBA Announced Inflation Rate over 2001-2006

According to the data of the National Bank of Azerbaijan, the real efficient rate of Manat including the oil sector, to some currencies of Azerbaijan trade partners increased in the gross trade turnover in December, 2006 by 4%, with 4,3% - in the import, and 3,8% - in the export.

Trend has been informed in NBA, that from January, 2006 through December, 2006, the changing the face currency rates by 24,7% had an impact on the real efficient rate in the trade, and the changing prices вЂ" by 75,3%. The research conducted also showed that the impact of the US share on the increase in the real efficient rate in the foreign trade reached 0,6%, UK, Georgia, Iran and Kazakhstan вЂ" 0,1%, Turkey вЂ" 0,8%, Israel, Ukraine, Japan вЂ" 0,3%, EUвЂ" 1,4%, and on the contrary, the decrease in the Russian share вЂ" 0,3%.

In comparison with December 2005, the real efficient rate of Manat in the non-oil sector in December, 2006 increased in the gross trade turnover by 5,9%, with 6,1% - in the import, and 2,7% - in the export.

As compared with December 2005, the real efficient rate reduction in the non-oil sector in December, 2006 in the gross trade turnover reached 10,7%,with 11,6% - in the import, 10,1% - in the export. Taking into account the oil sector, the real efficient rate reduced by 5%, 3,5% and 22,6% correspondingly.

January-December, 2006, the growth rates of the real efficient rate of Manat to the currencies of USA, Turkey, Georgia, Kazakhstan, Japan excelled the growth rate of the face efficient rate. At the same time, the Manat efficiently reduced to EUR, Pound Sterling, and Israeli Shekel. That is explained by the excess of the inflation rate in Azerbaijan over the growth of consumer prices in the above-mentioned countries. The excess of the face increasing over the real one to Iranian Rial and Ukrainian Hryvna is explained by the excess of the inflation rates in those countries over the growth of consumer prices in Azerbaijan.

NBA made a conclusion that the real efficient rate of Manat reduced in the long-term period of 2005-2006. In 2001-2006, the inflation rate in Azerbaijan reached 40,6%, while Azerbaijan trade partners had average prices at the rate of 53,3%.