Inflation in 2015 will be higher than projected 18%

The National Statistics Committee reported, that in January 2015 inflation was 2.4% due to the increase in utility rates, higher vegetable and fuel prices (despite the fact that the Council of Ministers decision No 1207 of December 19^th, 2014, has banned price increases). The government’s ban on price rises has only led to goods’ shortages, but has not constrained prices. When the decision is revoked prices on imported goods will hike due to the devaluation. Utility costs will continue to grow. 2015 inflation rate is likely to be higher than 18% projected by the government, regardless of frozen wage growth.