Изображение: ЕАБР
Analysts at the Eurasian Development Bank expect inflation in Belarus this year to be below the government’s target of 7%.
“We forecast inflation below the updated target,” the bank said in its weekly review of the economies of EDB member states.
It should be noted that the National Bank of Belarus also expects that inflation will remain below the target level.
Last week Belstat published data on inflation in February. The annual growth rate of the consumer price index slowed to 5.6%. The Eurasian Development Bank believes this was influenced by a slowdown in price growth in the services sector as well as the strength of the national currency.
“The main factor behind the slowdown in overall price growth was the deceleration of inflation in the services sector — to 5.4% year-on-year after 8.2% year-on-year — which is linked to the postponement of the planned increase in housing and utility tariffs from January to March. The trend toward slower price growth for non-food goods continues — to 2.1% year-on-year after 2.5% year-on-year — supported by the continued strength of the Belarusian ruble. Accelerating price growth for seasonal vegetables and fruits — to 5.6% year-on-year after 3.7% year-on-year — kept food inflation in February (8.7% year-on-year) close to the January level,” the review states.