EDB: domestic demand, ties to Russia fuel inflation
July 15, Pozirk. Higher domestic demand and strong economic ties to Russia remain among the major factors driving inflation in Belarus, the Eurasian Development Bank (EDB) said in its recent weekly macroeconomic report.
Consumer prices in Belarus rose by 0.6 percent in June, 3.4 percent since the start of the year and 5.8 percent year on year, according to official statistics.
In Russia, prices rose by 0.64 percent last month, 3.9 percent since January and 8.6 percent year on year.
The EDB recently revised its inflation forecast for Belarus up to 6 percent this year, similar to the government’s expectations.
