Belarus’ annual inflation accelerates due to regulatory measures under global food price pressure – MART
MINSK, Jul 14 - PrimePress. The acceleration of annual inflation in Belarus is caused by the decisions on permanently regulated prices (tariffs), rising prices in the market of non-food products, and the continuing pressure of world food prices, the Ministry of Antimonopoly Regulation and Trade (MART) of Belarus said in a commentary on the price situation in the consumer market in June 2021 posted on the ministry’s website.<br> <br> As previously reported, the rise of consumer prices in Belarus accelerated in June, 2021 to 9.9% in annual terms from 9.4% in April 2021; prices of socially important goods – to 8.6% from 8.4%.<br> <br> The acceleration of the increase in the consumer price index and the consumer price index for socially important goods is largely due to the decisions made regarding constantly regulated prices (tariffs), rising prices in the market of non-food products, as well as continuing pressure from world food prices. According to MART, the annual increase in world food prices slowed down in June to 31.8% from 37.5% in May.<br> <br> MART says accelerated annual consumer prices growth by 0.5 p.p. in June is due to the increase in the prices of meat and meat products to 10.2%, clothing - by 2.3 p.p. to 9.3%, motor fuel - by 2.8 p.p. to 12%, passenger transport services - by 3.6% to 18.1%. <br> <br> The annual rise in prices (tariffs) of the above goods and services in June was somewhat compensated by slowed down growth of prices of margarine and fruit and vegetable products to 8.6% from 11.7% in May.<br> <br> The largest increase in prices was reported in relation to imported vegetables of the new crop (due to an increase in contract prices): beets, potatoes, carrots, cabbages, onions. The largest decrease was registered for fruits (primarily apples and bananas), cucumbers and tomatoes.<br> <br> MART says that there tariffs for international passenger transportation (railway and air) rose significantly in June due to a seasonal increase, taking into account international agreements and fluctuations of the Swiss franc and the euro.<br> <br> As concerns regulated pricing, prices and tariffs rose in June to 9.6% in annual terms. <br> <br> Prices of medicines rose by 0.2% month on month; motor fuel - by 2.7% (following an increase in world oil prices), pre-school services - by 9.8% (as per summer nutritional standards); medical services - by 0.5%.<br> <br> According to the National Statistics Committee of Belarus, inflation in Belarus was at 0.7% in June 2021; 5.8% in January-June. Prices rose in June 2021 by 9.9% year on year; by 8.8% yoy in January-June 2021.<br> <br> As previously reported, inflation in Belarus was at 7.4% in 2020, the official forecast being 5%. The projected inflation rate in 2021 is also at or below 5%. End<br> <br>
2021-07-14
Primepress
Belarus’ annual inflation accelerates due to regulatory measures under global food price pressure – MART
As previously reported, the rise of consumer prices in Belarus accelerated in June, 2021 to 9.9% in annual terms from 9.4% in April 2021; prices of socially important goods – to 8.6% from 8.4%.
The acceleration of the increase in the consumer price index and the consumer price index for socially important goods is largely due to the decisions made regarding constantly regulated prices (tariffs), rising prices in the market of non-food products, as well as continuing pressure from world food prices. According to MART, the annual increase in world food prices slowed down in June to 31.8% from 37.5% in May.
MART says accelerated annual consumer prices growth by 0.5 p.p. in June is due to the increase in the prices of meat and meat products to 10.2%, clothing - by 2.3 p.p. to 9.3%, motor fuel - by 2.8 p.p. to 12%, passenger transport services - by 3.6% to 18.1%.
The annual rise in prices (tariffs) of the above goods and services in June was somewhat compensated by slowed down growth of prices of margarine and fruit and vegetable products to 8.6% from 11.7% in May.
The largest increase in prices was reported in relation to imported vegetables of the new crop (due to an increase in contract prices): beets, potatoes, carrots, cabbages, onions. The largest decrease was registered for fruits (primarily apples and bananas), cucumbers and tomatoes.
MART says that there tariffs for international passenger transportation (railway and air) rose significantly in June due to a seasonal increase, taking into account international agreements and fluctuations of the Swiss franc and the euro.
As concerns regulated pricing, prices and tariffs rose in June to 9.6% in annual terms.
Prices of medicines rose by 0.2% month on month; motor fuel - by 2.7% (following an increase in world oil prices), pre-school services - by 9.8% (as per summer nutritional standards); medical services - by 0.5%.
According to the National Statistics Committee of Belarus, inflation in Belarus was at 0.7% in June 2021; 5.8% in January-June. Prices rose in June 2021 by 9.9% year on year; by 8.8% yoy in January-June 2021.
As previously reported, inflation in Belarus was at 7.4% in 2020, the official forecast being 5%. The projected inflation rate in 2021 is also at or below 5%. End