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
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.
He said that inflation was below the official forecast in May 2020.
“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.
He said the global economy was gradually recovering from a deep recession of the second quarter of 2020.
“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.
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