Inflation Review. January 2021

The growth of consumer prices in the annual terms amounted to 7.7% in January 2021.

Acceleration of inflation is mainly conditioned by separate decisions in the sphere of fiscal policy: cancelation of concessions on VAT for the number of food and children's products, medicines and medical products.

In January 2021, consumer prices grew by 1.1% against December 2020.

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

Consumer prices dynamics
(on a year-on-year basis)

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

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)

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

Overall characteristics of change in consumer prices

Dynamics of consumer prices,
to the corresponding month of the previous year

Dynamics of the CPI components
dispersion on the basis of their annual growth rates

Maximum and minimum growth rates of the unregulated prices and tariffs in January 2021 in the annual terms

*excl. regulated ones

Maximum and minimum growth rates of the regulated prices and tariffs in January 2021 in the annual terms

Source: the National Bank's calculations based on the National Statistical Committee's data.


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