Kabyakou: Since the start of the year, prices rose by 3.3%

Since the start of the year, consumer prices in Belarus rose by 3.3%, while the national currency depreciated by 25%. This was stated by Prime Minister Andrei Kabyakou who presented an action program of the government at a meeting with the House of Representatives. Kabyakou explained a large variation between the devaluation and inflation as follows:

"The growth of consumer prices on February 17, that is, from the beginning of the year, was 3.3%, while the Belarusian ruble in this period weakened by 25% - from January 1 to February 17. This is lower than in Russia, Ukraine - our main neighbors. The implementation of strict control over the prices, the blocking of any, even the smallest manipulation attempts in this area are the targets set by the president. To solve it, we will be active, gradually replacing the administrative limitations with additional measures of regulation and competition," said the Prime Minister Andrei Kabyakou.

In December 2014, when the dollar began to increase significantly, there was issued a government Decree 1207, basd on which there was imposed a de facto ban on price increases. Since mid-January, importers were allowed to raise prices by the amount of change in the dollar rate. In February, Belarusian producers were allowed to change the price of goods in the amount of change in the prices of raw materials received after December 18, 2015.

According to the official forecast, inflation in 2015 is planned at 12%. But a month ago, the National Bank reported on the adjustment of forecasts. Now it is expected that the increase in consumer prices this year should reach 16-20%.

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