Annual inflation in Belarus accelerates to 6.6% in Nov 2020

<p> MINSK, Dec 11 - PrimePress. Annual inflation in Belarus accelerated to 6.6% in November 2020, reads the monthly inflation review released by the National Bank of Belarus (NBB). </p> <p>   </p> <p> Consumer prices rose in Nov 2020 by 6.6% year on year (6.2% y/y in Oct 2020; 6.1% y/y in Sep 2020). </p> <p>   </p> <p> Core inflation increased to 6.4% in Oct 2020; 6.1% y/y in Oct 2020 and 5.4% y/y in Sep 2020. </p> <p>   </p> <p> The increase in administered prices and tariffs slowed down to 6.5%, 5.8% and 5.6% on the year, respectively. </p> <p>   </p> <p> Seasonal prices increased by 10.5% year on year in Nov 2020 to compare with 9.2% yoy in Oct 2020, and 21.4% yoy in Sep 2019. </p> <p>   </p> <p> The year-on-year aggregate trend inflation rate was at 5.1% yoy in Nov 2020, 4.7% in Oct 2020 and 4.2% in Sep 2020. </p> <p>   </p> <p> The highest and lowest annual growth rates of free prices and tariffs in November 2020 were, inter alia, minus 3.6% for hotel services; minus 7.8% for food salt; +0.6% for cultural services; +1.1% for meat and meat products; +12.5% for jewellery; +13.4% for electrical goods; +15.3% for cars; +15.4% for bicycles; +30.9% for passenger transport services. </p> <p>   </p> <p> The maximum and minimum growth rates of regulated prices and tariffs in November 2020 in annual terms were, inter alia, +3.4% for communication services; also +3.4% for renting premises of the state housing stock; +9.7% for regulated passenger transport services; +10.9% for tobacco products; and +33.3% for personal transport insurance services. </p> <p>   </p> <p> In annual terms of the maximum and minimum growth rates of regulated prices and tariffs in Oct 2020, telecommunication services showed a 0.8% increase; rent of state-owned premises – up 3.4%; technical inspection of cars – up 8.6%; regulated passenger transport services – up 9.5%; tobacco products – up 11.4%; personal transport insurance services – up 32.7%. </p> <p>   </p> <p> As previously reported, inflation in Belarus was up 0.7% in Nov 2020; 6.1% in Jan-Nov 2020. Prices increased by 6.6% y/y in Nov 2020, by 5.4% y/y in Jan-Nov 2020. Inflation in Belarus was at 4.7% in 2019, the official forecast being 5%. The official inflation forecast for 2020 is also at or below 5%. The National Bank of Belarus did not rule out, though, that inflation might grow to 6%. Prime Minister of Belarus Roman Golovchenko said in November that inflation can go up to 10% by the end of 2020. End </p>

2020-12-12

Primepress