Belarus inflation slowed down in Feb to 1.5pc m/m

Sunday, 11 March 2012 16:27

Posted by Shoaib-ur-Rehman Siddiqui

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MINSK: Belarus' consumer prices rose 1.5 percent in February, month-on-month, slowing down from a 1.9 percent increase in January, the country's statistics service said on Sunday.

In January-February inflation added 3.5 percent, also down from 4.2 percent seen the same period last year.

Following the financial crisis, last year the rouble lost two-thirds of its value against the dollar and inflation climbed above 100 percent, forcing the central bank to hike the refinancing rate to 45 percent to get a grip on prices.

In February, the central bank started to cut its refinancing rate in a move to gradually ease its lending policy, indicating that it believed the worst of the crisis was over.