National Bank of Belarus predicts slowdown in inflation growth from 8.5% to 7%
<p> MINSK, Apr 14 – PrimePress. The National Bank of Belarus (NBB) predicts a slowdown in inflation in 2021 fr om the current level of 8.5% percent to 7%. At the same time, a decrease in the quarterly growth rate of consumer prices is projected beginning in Q2 2021, the press service of the National Bank said. </p> <p> </p> <p> As previously reported, Belarus saw inflation at 7.4% in 2020, whole the official forecast stood at 5%. The inflation forecast for 2021 is also not more than 5%. </p> <p> </p> <p> “Given the impact of all factors, starting from the second quarter of 2021, the quarterly growth rate of consumer prices is projected to decrease. However, the earlier acceleration will be reflected in the annual inflation rate until the end of the year. The year-on-year price growth rate is expected to increase in the second quarter compared to its current value and then decrease towards the end of the year. In December 2021, consumer price growth is estimated to be near 7%,” the report said. </p> <p> </p> <p> According to the regulator, annual inflation will continue to slow down in the future and from the second quarter of 2022 it is estimated at the level of the medium-term target - about 5%. At the same time, the National Bank estimates that weak consumer and investment demand within Belarus will also “somewhat lim it inflation”. </p> <p> </p> <p> As previously reported, the NBB reported a slowdown in annual inflation in Belarus to 8.5% in Mar 2021, reads the monthly inflation review released by the National Bank of Belarus on Apr 13. Consumer prices rose in Mar 2021 by 8.5% year on year (8.7% yoy in Feb 2021; 7.7% y/y in Jan 2021). Core inflation increased to 8.2% in Mar 2020; 8.3% yoy in Feb 2021; 7.5% y/y in Jan 2021. End </p>
2021-04-15
Primepress
National Bank of Belarus predicts slowdown in inflation growth from 8.5% to 7%
MINSK, Apr 14 – PrimePress. The National Bank of Belarus (NBB) predicts a slowdown in inflation in 2021 fr om the current level of 8.5% percent to 7%. At the same time, a decrease in the quarterly growth rate of consumer prices is projected beginning in Q2 2021, the press service of the National Bank said.
As previously reported, Belarus saw inflation at 7.4% in 2020, whole the official forecast stood at 5%. The inflation forecast for 2021 is also not more than 5%.
“Given the impact of all factors, starting from the second quarter of 2021, the quarterly growth rate of consumer prices is projected to decrease. However, the earlier acceleration will be reflected in the annual inflation rate until the end of the year. The year-on-year price growth rate is expected to increase in the second quarter compared to its current value and then decrease towards the end of the year. In December 2021, consumer price growth is estimated to be near 7%,” the report said.
According to the regulator, annual inflation will continue to slow down in the future and from the second quarter of 2022 it is estimated at the level of the medium-term target - about 5%. At the same time, the National Bank estimates that weak consumer and investment demand within Belarus will also “somewhat lim it inflation”.
As previously reported, the NBB reported a slowdown in annual inflation in Belarus to 8.5% in Mar 2021, reads the monthly inflation review released by the National Bank of Belarus on Apr 13. Consumer prices rose in Mar 2021 by 8.5% year on year (8.7% yoy in Feb 2021; 7.7% y/y in Jan 2021). Core inflation increased to 8.2% in Mar 2020; 8.3% yoy in Feb 2021; 7.5% y/y in Jan 2021. End