OREANDA-NEWS  On 28 October was announced, that Belarus’ core inflation was at 1.4% in September 2008.

In the first nine months, core inflation accelerated 8.3%.

Staple food prices went up 2.1% on the month in September and 11.4% in January-September; non-food prices increased 0.7% and 4.9% and service prices went up 0.5% and 8%.

Russia registered 1.4% core consumer inflation in September 2008 and 10.1% in January-September.

Core inflation rate reached 10.2% in January-December 2007. Staple food prices went up 14%; non-food prices increased 4.4% and service prices went up 5.4%.

Core inflation is close to basic monetary indicators and does not depend on variables, especially seasonal factors and administratively-controlled price-formation.

Core inflation is the key benchmark for monetary strategies; many countries of the world have their central banks calculate the core consumer price index [in Belarus it is calculated by the Statistics Ministry].