NBB expects inflation within 5-5.3% till year end – Kallaur

<p> MINSK, Aug 12 - PrimePress. The National Bank of Belarus (NBB) expects annual inflation within the range of 5-5.3% per annum by the end of 2020, Chairman of the Board of the National Bank Pavel Kallaur told reporters on August 12. </p> <p>   </p> <p> He said that inflation was below the official forecast in May 2020. </p> <p>   </p> <p> “In July, annual inflation was at 5.2%, core inflation ay 3.8%. We expect that annual inflation will be within the range of 5-5.3% till the end of the year. Future price stability will be maintained thanks to a combination of long-term disinflationary factors, the effect of which is already manifesting itself, external disinflationary conditions among them,” Kallaur said. </p> <p>   </p> <p> He said the global economy was gradually recovering from a deep recession of the second quarter of 2020. </p> <p>   </p> <p> “We also assume that the recovery of global economic activity will take a while, given the coronavirus pandemic. This will continue to curb external inflation below the target ​​until the end of 2021. In general, external conditions will have a restraining effect on the prices of goods imported to Belarus,” said Kallaur. </p> <p>   </p> <p> Inflation in Belarus stood at 0.2% in July 2020, 3.6% in January-July 2020. In 2019, inflation was at 4.7%, the official forecast being 5%. The official inflation forecast for 2020 is also 5%. The National bank of Belarus does not rule out, though, that inflation may reach 6% in 2020. End </p>

2020-08-12

Primepress