Inflation Review. January 2019

In January 2019, the annual increase in consumer prices raised by 0.2 percentage points and totaled 5.8%.

In January 2019 against December 2018, consumer prices grew by 0.9%.

Growth of consumer prices
(% to the corresponding month of the previous year)

Dynamics of consumer prices
(on a year-on-year basis)

Core inflation
(% to the corresponding month of the previous year)

Administratively regulated prices and tariffs
(% to the corresponding month of the previous year)

Seasonal prices (for fruits and vegetables)
(% to the corresponding month of the previous year)

Aggregated indicator of the trend inflation
(% to the corresponding month of the previous year)

General characteristics of changes in the consumer prices

January 2019 witnessed an acceleration in the annual growth rate of seasonal prices with a slowdown in the growth of regulated prices and tariffs, as well as boost in core inflation.

Prices for fruits and vegetables rose in January 2019 by 5.7% in annual terms (a 0.9 % decrease a month earlier). The acceleration of the annual growth rate of prices is largely due to the higher increase in prices for certain types of vegetables (fresh tomatoes and cucumbers, white cabbage).

Annual core inflation remained almost at the level of the previous month and amounted to 4.7% (4.8% a month earlier). The increase in prices for traded goods against the background of the corresponding price dynamics in the Russian Federation had a significant impact on the annual growth rate of the indicator in January 2019.

Trend inflation in annual terms in January 2019 totaled 4.2% (4.3% a month earlier). The average intensity of growth in consumer prices and tariffs stood at 4.1%.

The annual growth in administratively regulated prices and tariffs fell to 8.7% (9% in December 2018). The main contribution to the increase in prices and tariffs for this group of goods and services in January 2019 was made by the growth in prices for liquefied gas, tobacco products, as well as the rise in prices for a number of services due to the increase in the base value on January 1, 2019 to BYN25.5.

Dynamics of consumer prices
(on a year-on-year basis)

Dynamics of inflation indicators
(on a year-on-year basis)

Methodological explanations   Archive