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Source: National Bank of the Republic of Belarus in English

In December 2019, the annual growth in consumer prices slowed down by 0.3 percentage points and amounted to 4.7% with a target parameter being not more than 5%.
Relative to November, consumer prices in December 2019 increased by 0.5%.

Growth of consumer prices(% to the corresponding month of the previous year)

Dynamics of consumer prices(on a year-on-year basis)

Core inflation(% to the corresponding month of the previous year)

Administratively regulated prices and tariffs(% to the corresponding month of the previous year)

Seasonal prices (for fruits and vegetables)(% to the corresponding month of the previous year)

Aggregated indicator of the trend inflation(% to the corresponding month of the previous year)

Overall characteristics of change in consumer prices
December 2019 witnessed a further slowdown in the annual dynamics of core inflation, as well as prices for fruits and vegetables, while maintaining the annual growth rate of regulated prices and tariffs at the level of the previous month.
Annual core inflation has been decelerating over the past four months. In December 2019, it decreased to 3.5% (3.7% in November 2019). The main influence on the downward trajectory of the movement of free-of-control prices had a slowdown in food prices.
A similar dynamics is also characteristic of price indicators, cleared of the influence of short-term shocks. The aggregate indicator of trend inflation in annual terms has been slowing down since September 2019. In December 2019, it totaled 3.6%. At the same time, the average intensity of growth in consumer prices declined to 3.7%.
The annual increase in regulated prices and tariffs in December 2019 remained at 7.5%. The main contribution to the growth in prices and tariffs for this group at the end of the year was provided by the raise in the cost of housing and communal services, fuel, and communication services.
In December 2019, prices for fruits and vegetables increased by 8.9% in annual terms, which is 3.2 percentage points lower than the level of the previous month due to lower annual growth rates of seasonal prices for vegetables and potatoes.

Dynamics of consumer prices(on a year-on-year basis)

Dynamics of inflation indicators(on a year-on-year basis)

Methodological explanations   Archive

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