Absence of inflation is usually a sign of stagnation in the economy. Naturally, no one wants to see consumer prices for goods and services rocketing. Belarus is now seeing price growth steadying, as the National Statistical Committee reports; in July 2012 prices rose by 101.3 percent compared to June, but have only grown 12 percent since the beginning of the year. These figures are within the scope of the annual forecast, which aims to see prices for goods and services rise by no more than 19-22 percent.
In July 2012, the price index for industrial goods rose by 100.9 percent in comparison with June and 113 percent in comparison with December 2011. Prices for investment goods rose by 0.7 percent and 21.4 percent respectively while intermediate goods rose in price by 0.1 percent and 9.7 percent. Over the same period, consumer goods rose by 2.4 percent and 15.2 percent.
The National Statistics Committee notes that, in July, prices for agricultural products rose by 102.1 percent in comparison with June and 122.8 percent compared with December; crop prices increased by 110.6 percent and 137.3 percent respectively, while those for animal breeding rose by 99.8 percent and 119 percent. In July, the price index for food amounted to 102.1 percent compared to June and 114.1 percent compared to December.
