Inflation on a short-term break in Belarus

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April 22, 2016 18:55

According to the National Statistics Committee, consumer prices in July 2014 rose by only 0.9% since June 2014, the lowest monthly growth in 2014.

Due to the possible increase in demand for dairy and meat products from Russia, as well as the planned increase in transport and utility tariffs, inflation is expected to increase in the coming months. Inflation will only partially be corrected by the seasonal decline in vegetable prices. Prices on imported products may soar due to the additional costs for importers of consumer goods, i.e. when Council of Ministers regulation No 361 takes effect. In addition, the recently enacted restrictions on the share of chain retailers on the regional market will reduce price competition in the regions, thus not constraining price growth on the regional level.

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