(RTTNews) - Consumer prices in Belarus increased 6.9% year-on-year in June, the National Statistical Committee of the Republic of Belarus said Monday.
During the month, the consumer price index for food products climbed 7.5% annually and the index for non-food articles rose 7.9%. Petrol prices surged 28.5% during the month, while electricity prices were unchanged from last year.
Prices of garments and footwear increased 4.1% and 1.7% respectively on an annual basis. Month-on-month, prices were up 0.2% and in the first half of the year, prices increased 6.6% year-on-year.
Last week, the Belarusian central bank slashed the refinancing rate by 50 basis points to 11.5%, citing strengthening positive trends in the country's economy and finance. A regular reduction in the refinancing rate will facilitate the declining trend of the interest rates on bank loans that would provide additional incentive for high economic growth rates in the country, the bank said in the monetary policy statement.