30 November, Minsk /Liliya Krapivina – BELTA/. Inflation rates in Belarus will slow down by the end of 2011. This was announced today by Deputy Prime Minister Sergei Rumas at a joint meeting of the two chambers of the National Assembly, as reported by a BELTA correspondent. Sergei Rumas acknowledged that inflation is currently the most pressing issue. "The government realizes that only a complete solution to this issue will create a basis for further sustainable economic growth," he said. Analysis of November data indicates a slowdown in inflation during the third week of November, with the consumer price index at 1.4%, largely due to previously adopted decisions on regulated prices, the Deputy Prime Minister emphasized. This primarily concerns prices for alcoholic beverages. Simultaneously, a trend of price reduction for certain goods has emerged. Specifically, this includes pork, buckwheat groats, peas, tea, and synthetic detergents. "Given that the main decisions on increasing regulated prices have already been made, we predict an even more significant slowdown in inflation by the end of the current year," said Sergei Rumas. In December 2011, the list of socially significant goods whose prices are regulated by the state will be expanded by 11 commodity groups, the Deputy Prime Minister noted. The government, together with the National Bank, has halted the growth of monetary inflation caused by changes in the exchange rate of foreign currencies against the Belarusian ruble. "You can see that the Belarusian ruble has stabilized and even strengthened against the main foreign currencies in the last week," Sergei Rumas remarked. Thus, the exchange rate impact on inflation is currently practically zero, he stressed. "Therefore, the factors listed allow the government to look at December with optimism and expect a significant reduction in inflation in December of the current year," Sergei Rumas noted. -0-

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