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Central bank explains inflation slowdown in December 2019

Economy 15.01.2020 | 09:34
Photo from Pixabay
Photo from Pixabay

MINSK, 15 January (BelTA) – In December 2019 the year-on-year growth in consumer prices slowed down by 0.3 percentage points to equal 4.7%, while the target was to keep it within 5%. However, consumer prices in December rose against November by 0.5%, BelTA learned from the December review of the National Bank of the Republic of Belarus.

“The year-on-year core inflation has been decelerating for the past four months,” the review reads. In December 2019 it dropped to 3.5% (3.7% in November 2019). This mostly came on the back of price deceleration for foodstuffs.

The year-on-year growth in regulated prices and tariffs in December 2019 remained at 7.5%. The main contributor to the price growth in this group were housing and utility bills, fuel and communication. In December prices for fruit and vegetables rose by 8.9% year-on-year, down 3.2 percentage points from the previous month. This is attributed to slower annual growth in seasonal prices for vegetables and potatoes.

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