Government intends to revise inflation forecast for 2022

April 22, MINSK. The government intends to revise the inflation forecast for 2022. First Deputy Prime Minister Nikolai Snopkov told journalists about the budget policy in the current conditions, BelTA has learned.

In his opinion, the situation in the economy as a whole will not change from the announced inflation figures. "How much to bet - 9%, 12%, 15%? Everything does not depend on the internal situation, because, if you paid attention, the government actively restrains the internal situation, including consumer prices. And inflation, primarily consumer inflation, food, in countries that are closer to us, it is higher. All the inflation that we have now is external." Among the external factors that influenced the growth of consumer prices, Nikolai Snopkov named the rise in world food prices and fluctuations in the exchange rate of the Russian ruble.

According to the main directions of monetary policy, approved in December 2021, the inflation rate in Belarus for 2022 was projected to be up to 6%. According to data for January and February this year, the consumer price index for goods and services rose by 1.5% and 1.6% respectively. In March, the growth was 6.1%.

At the same time, annual inflation in the eurozone hit a historic high. According to Eurostat, annual inflation in the European Union was 6.2% in February 2022, compared to 5.6% in January. In February, the largest contribution to the annual inflation rate in the euro area was made by rising prices for energy, services, food, ALCOHOL and tobacco.

The highest annual inflation rates were recorded in Lithuania (14%), Estonia (11.6%), the Czech Republic (10%) and Belgium (9.5%). The lowest annual inflation rates in February were registered in France (4.2%), Portugal, Finland and Sweden (4.4% each).