Belarus: Inflation drops to record low in November
December 18, 2017
Consumer prices rose 0.5% over the previous month in November, down from a 1.2% month-on-month jump in October. A breakdown released by the Statistical Institute showed an increase in prices in 9 out of 12 sub-categories. The housing, water, electricity, gas and other fuels component recorded the biggest jump in prices, while clothing and footwear, and communications were the only two groups to register price falls. Prices for education remained stable over the previous month.
Indicative of how the Central Bank’s tighter control of monetary aggregates is bearing fruit, inflation dropped to a record low of 4.9% in November, down from 5.3% in October. Annual average inflation fell to 6.5% in November from 7.0% in October, which also marked an all-time low.
Author: Nihad Ahmed, Economist