The highest level of annual inflation (relative to the corresponding period of the previous year) among the CIS countries in May 2005 was recorded in Ukraine, where it stood at 14%, according to the materials of the Interstate Statistical Committee of the Commonwealth.
In Russia, the annual inflation rate in May 2005 (compared to May 2004) was 13.4%. A high level of annual inflation in May was also recorded in Azerbaijan - 13.6%, in Moldova - 13.4%, in Belarus - 11.8%, in Georgia - 9.5%. The lowest level of annual inflation among the CIS countries was recorded in May in Armenia - 2.9%. Relatively low inflation was also noted in Kyrgyzstan - 4.2%, Tajikistan - 6.7%, Kazakhstan - 7.2%. On average across the CIS countries, the annual inflation rate in May was equal to 13%. The CIS Statistical Committee does not have information on inflation in Uzbekistan and Turkmenistan.
As for the growth rates of industrial production in the CIS countries, the largest growth in January-May 2005 compared to the same period of 2004 was recorded in Azerbaijan, where it amounted to 19.4%. In Georgia, industrial production growth was 10.9% of the January-May 2004 level, in Belarus - 10.6%, in Tajikistan - 7.9%, in Kazakhstan - 7.2%, in Ukraine - 6.2%, in Armenia - 4.5%, in Moldova - 3.8%. In Russia, industrial production over January-May grew by 3.6%.
Industrial production declined in Kyrgyzstan - by 8.1%. The CIS Statistical Committee does not have data on the situation in Turkmenistan and Uzbekistan.
On average across the CIS countries, industrial production growth over January-May was 5.0% (in January-May 2004, growth was equal to 9%). GDP on average across the CIS countries over 4 months of 2005 also grew by 5.0%.
Azerbaijan's GDP in January-May 2005 increased by 16.0%, Belarus - by 8.9%, Armenia - by 8.5%, Tajikistan - by 7.5%, Ukraine - by 4.7%, in Kyrgyzstan - by 3.3%. In Russia, the production of goods and services from basic types of economic activity over January-May increased by 4.8%.