Updated at 11:30,08-12-2016

Inflation in Belarus Still Exceeding Inflation in Europe

According to National Statistics Committee of Belarus, the country was still the leader in the rate of inflation among the CIS countries and Europe in August. So, just in August, inflation in Belarus amounted 8.9%, while in January-August - 53.6%.

Kazakhstan ranked 2nd place in the rate of inflation, where prices rose by 0.3% in August and by 5.9% YTD. Next goes Russia with 4.7% inflation rate in January - August. At the same time 0.2 % deflation is estimated here in August. A similar situation can be observed in Ukraine, where in January - August prices rose by 4.1%, but in August they fell by 0.4%.

Of the 18 countries surveyed, the lowest inflation in January - August 2011 was recorded in Spain - 0.8%, Germany - 1.3%, as well as Bulgaria and the Czech Republic - 1.5%. At the same time, in Norway prices have fallen by 0.7% YTD.

It's also worth noting that the August inflation in Belarus surpassed the one in neighboring countries in almost all categories of goods and services. Belarus was outrun only by Poland in pricing for communications services (4.8% in Poland against 1.7% in Belarus), as well as in prices of education services (0.1% in Belarus, while in Russia - 2%, Estonia - 0.5%, Turkey - 0.3%, Kazakhstan - 0.2%).

Prices of goods and services for the Belaruian population increased by 10.5% on September 1-20 against August this year. The inflation has reached 69.7% YTD.