Central bank: Core inflation hits 14 percent in 2022

January 12, BPN. Belarus’ core inflation eased to 14 percent in 2022 from 14.6 percent in November 2022 year on year, the National Bank reports.

Core inflation does not include the costs of seasonal goods. Goods and services with volatile or state-regulated prices are also excluded.

Regulated prices and tariffs increased by 10.2 percent last year, the central bank said. Seasonal prices for fruits and vegetables spiked by 7.6 percent.

The National Statistics Committee said in December 2022 that consumer prices for goods and services increased by 12.8 percent from the December 2021 level, whereas the government had projected annual inflation of 6 percent.

On November 28, Alaksandr Łukašenka approved the key socio-economic development parameters, projecting a slowdown in inflation to 7-8 percent next year.