Belarus sees annual rise in prices of essential goods accelerate by 1.3 p.p. month on month in May to 8.4%
<p> MINSK, Jun 15 - PrimePress. The year-on-year increase in prices for socially important goods in Belarus accelerated by 1.3 percentage points month on month in May 2021 to 8.4%. This is stated in the May 2021 report on the price situation in the consumer market published on the website of the Ministry of Antitrust Regulation and Trade of Belarus (MART). </p> <p> </p> <p> As previously reported, inflation in Belarus amounted to 0.6% in May 2021 and 5.2% in January-May. In May 2021, prices rose by 9.4% compared to May 2020, while in January-May 2021 - by 8.6% compared to January-May 2020. </p> <p> </p> <p> “The acceleration in the annual increase in the consumer price index (CPI) and the CPI for socially important goods is largely due to the continuing rise in global food prices. For example, according to FAO data, world prices for meat increased by 8.3%, milk by 25.9%, cereals by 34.5%, vegetable oil by 2.2 times and sugar by 1.5 times. The CPI increase was also influenced by decisions on permanently regulated prices,” the report said. </p> <p> </p> <p> The CPI of socially significant goods is one of the parameters of socio-economic development, first introduced by the government of Belarus in 2021, which is calculated for 72 commodities of daily demand. It includes meat, milk and dairy products, sausages, fish, groceries, bread, oil, vegetables, motor fuel and certain medicines. </p> <p> </p> <p> According to MART, critical imports will continue to see the biggest price increase between May 2020 and May 2021. For example, vegetable oil rose by 56.5% in May 2021 (49.8% in April). As a consequence, mayonnaise rose by 28.8% (21.9% in April). </p> <p> </p> <p> “The prices of medicines continue to grow - 22.1% year on year (against the background of the abolition of the reduced VAT rate in early 2021), and meat and meat products - 9.1% (due to the rise in price of raw materials used in production). </p> <p> </p> <p> At the same time, in year-on-year the growth rate of prices for footwear is slowing down - to 4.9% in May 2021 (5.7% in April), and for synthetic detergents - to 8.7% (9.2% in April). End </p> <p> </p>
2021-06-16
Primepress
Belarus sees annual rise in prices of essential goods accelerate by 1.3 p.p. month on month in May to 8.4%
MINSK, Jun 15 - PrimePress. The year-on-year increase in prices for socially important goods in Belarus accelerated by 1.3 percentage points month on month in May 2021 to 8.4%. This is stated in the May 2021 report on the price situation in the consumer market published on the website of the Ministry of Antitrust Regulation and Trade of Belarus (MART).
As previously reported, inflation in Belarus amounted to 0.6% in May 2021 and 5.2% in January-May. In May 2021, prices rose by 9.4% compared to May 2020, while in January-May 2021 - by 8.6% compared to January-May 2020.
“The acceleration in the annual increase in the consumer price index (CPI) and the CPI for socially important goods is largely due to the continuing rise in global food prices. For example, according to FAO data, world prices for meat increased by 8.3%, milk by 25.9%, cereals by 34.5%, vegetable oil by 2.2 times and sugar by 1.5 times. The CPI increase was also influenced by decisions on permanently regulated prices,” the report said.
The CPI of socially significant goods is one of the parameters of socio-economic development, first introduced by the government of Belarus in 2021, which is calculated for 72 commodities of daily demand. It includes meat, milk and dairy products, sausages, fish, groceries, bread, oil, vegetables, motor fuel and certain medicines.
According to MART, critical imports will continue to see the biggest price increase between May 2020 and May 2021. For example, vegetable oil rose by 56.5% in May 2021 (49.8% in April). As a consequence, mayonnaise rose by 28.8% (21.9% in April).
“The prices of medicines continue to grow - 22.1% year on year (against the background of the abolition of the reduced VAT rate in early 2021), and meat and meat products - 9.1% (due to the rise in price of raw materials used in production).
At the same time, in year-on-year the growth rate of prices for footwear is slowing down - to 4.9% in May 2021 (5.7% in April), and for synthetic detergents - to 8.7% (9.2% in April). End