Consumer prices up by 2.95 percent in four months

May 12, BPN. Consumer prices in Belarus rose by 2.95 percent in the first four months of 2023, driven by higher costs of food, non-food products and services, the national statistics service has said.

Belstat said food prices increased by 3.62 percent, non-food products by 0.98 percent and services by 4.37 percent.

Compared with April 2022, prices rose by 4.7 percent overall. Food prices jumped by 6.1 percent, non-food products by 1.6 percent and services by 6.6 percent.

Two months ago, Alexander Lukashenko ordered the government to keep annual inflation around 7 percent using monetary, regulatory and administrative means.

Belarusian officials had projected inflation of 7-8 percent in 2023 and aimed to keep the growth of prices and fees under 6 percent.

The research center BEROC forecasted that annual inflation could fall below 5 percent in spring-summer and accelerate to 7-11 percent by the end of the year.