Eurasian Development Bank commented on the inflation in Belarus. In January, it accelerated again and amounted to 10%.
“Annualized monthly price growth, with seasonality eliminated, is estimated at about 14% in January after 7-8% in November – December 2021. The acceleration is due to higher food and services price increases,” the bank said in its weekly review of economies of operations.
The EDB believes that inflation in Belarus will remain above 10% in the first quarter. Due to this fact, the bank experts believe that the Belarusian National Bank may raise the refinancing rate up to 10% per annum. Now it stands at 9.25% per annum.