Annual inflation in Belarus accelerates to 7.4% in Dec 2020
<p> MINSK, Jan 14 - PrimePress. Annual inflation in Belarus accelerated to 7.4% in December 2020, reads the monthly inflation review released by the National Bank of Belarus (NBB). </p> <p> </p> <p> As previously reported, inflation in Belarus was 1.2% in December 2020 and 7.4% in January-December. The official inflation forecast for 2020 was no more than 5%, but then the National Bank of Belarus admitted it could possibly rise to 6%. Belarusian Prime Minister Roman Golovchenko said in December that he would tolerate 10% inflation by the end of 2020. </p> <p> </p> <p> “The fact that inflation exceeded the end-of-year forecast is due to the weakening of the Belarusian ruble, deteriorating economic sentiment and rising inflationary expectations, as well as supply shocks for some food products,” the National Bank said in its review. </p> <p> </p> <p> Consumer prices rose in Dec 2020 by 7.4% year on year (6.6% y/y in Nov 2020; 6.2% y/y in Oct 2020). </p> <p> </p> <p> Core inflation increased to 7.1% in Dec 2020; 6.4% y/y in Nov 2020 and 6.1% y/y in Oct 2020. </p> <p> </p> <p> The increase in administered prices and tariffs slowed down to 6.7%, 6.5% and 5.8% on the year, respectively. </p> <p> </p> <p> Seasonal prices (fruit and vegetables) increased by 16% year on year in Dec 2020 to compare with 10.5% yoy in Nov 2020, and 9.2% yoy in Oct 2020. </p> <p> </p> <p> The year-on-year aggregate trend inflation rate was at 5.6% yoy in Dec 2020, 5.1% in Nov 2020 and 4.7% in Oct 2020. </p> <p> </p> <p> The maximum and minimum annual growth rate of free prices and tariffs in December 2020 was minus 9.7% for food salt; minus 4.9% for hotel services; +1.1% for wheat flour; +2.3% for bread and bakery products; +2.4% for dry goods; +13.3% for electrical goods; +13.4% for bicycles; +15.2% for passenger cars; +30.2% for passenger transport services. </p>
2021-01-15
Primepress
Annual inflation in Belarus accelerates to 7.4% in Dec 2020
MINSK, Jan 14 - PrimePress. Annual inflation in Belarus accelerated to 7.4% in December 2020, reads the monthly inflation review released by the National Bank of Belarus (NBB).
As previously reported, inflation in Belarus was 1.2% in December 2020 and 7.4% in January-December. The official inflation forecast for 2020 was no more than 5%, but then the National Bank of Belarus admitted it could possibly rise to 6%. Belarusian Prime Minister Roman Golovchenko said in December that he would tolerate 10% inflation by the end of 2020.
“The fact that inflation exceeded the end-of-year forecast is due to the weakening of the Belarusian ruble, deteriorating economic sentiment and rising inflationary expectations, as well as supply shocks for some food products,” the National Bank said in its review.
Consumer prices rose in Dec 2020 by 7.4% year on year (6.6% y/y in Nov 2020; 6.2% y/y in Oct 2020).
Core inflation increased to 7.1% in Dec 2020; 6.4% y/y in Nov 2020 and 6.1% y/y in Oct 2020.
The increase in administered prices and tariffs slowed down to 6.7%, 6.5% and 5.8% on the year, respectively.
Seasonal prices (fruit and vegetables) increased by 16% year on year in Dec 2020 to compare with 10.5% yoy in Nov 2020, and 9.2% yoy in Oct 2020.
The year-on-year aggregate trend inflation rate was at 5.6% yoy in Dec 2020, 5.1% in Nov 2020 and 4.7% in Oct 2020.
The maximum and minimum annual growth rate of free prices and tariffs in December 2020 was minus 9.7% for food salt; minus 4.9% for hotel services; +1.1% for wheat flour; +2.3% for bread and bakery products; +2.4% for dry goods; +13.3% for electrical goods; +13.4% for bicycles; +15.2% for passenger cars; +30.2% for passenger transport services.