Belarus inflation at 8.9% in Aug
MINSK. Sept 9 (Interfax) - Inflation in Belarus reached 8.9% in August 2011 and 53.6% in January-August, the National Statistics Committee Belstat told Interfax.
Annual inflation compared to August 2010 was 60.7% in August 2011.
Food prices surged 55.3% in the eight months, including a 9.7% climb in August. Nonfood goods jumped 68.6% with a 10.8% rise in August. Services went up 27.4% in the eight months and 3.5% in August.
Industrial producer prices grew 67%, including a 6% rise in August. In annual terms, the prices were up 78.1%.
Construction and assembly work went up 32.1% in January-August, including a 7.5% rise in August, and cargo shipment tariffs climbed 70.9% (1.2%).
The Belarusian government initially predicted that inflation would not exceed 7.5%-8.5% in 2011. Later, the forecast was pushed up to 55% because of national currency devaluation. The Economy Ministry has several macro-scenarios for 2011, each of which contains three-figure rates of inflation for the year.