Annual inflation rate not to exceed 6%

Inflation over this year will not exceed 6%. This was confirmed today by the Ministry of Antimonopoly Regulation and Trade of Belarus. The department constantly monitors the situation, receiving summary information on prices from producers, suppliers and retail chains, comparing how it varies from month to month. There are no objective prerequisites for large inflationary expectations. In addition, the development of competition helps to reduce the cost of goods and services and improve their quality.

People's incomes and inflation rate are these two important factors that affect the dynamics of prices and determine the behavior in the production and trade market. This year, as the regulator assures, the price situation is stable.

Belarus introduced price regulation in order to support our plants. The decision was supported by colleagues in the EEA. Russian sugar was sold cheaper than domestic sugar, thus our producers suffered losses. Today the price is the same for everyone.

In general, the prices for food products have increased by 2.5% since the beginning of the year, for by 2%, non-food products, over 5% for services.

The next step of the regulator is to develop the competition development program jointly with the International Finance Corporation by the end of the year.