OREANDA-NEWS  On 07 November was announced, that consumer prices grew 9.4% in January-September 2008 due to external factors, and consumer inflation will increase 14% in 2008, Economy Minister Nikolai Zaichenko said during an enlarged session of the Council of Ministers.

“Consumer prices rose 9.4% in the first nine months, which compares to 10.6% in Russia, 16.1% in Ukraine, 8.3% in Kazakhstan. The increase can be attributed to higher import prices for energy resources and raw materials, as well as food. As a result we had to increase prices on the home market to reduce the number of loss-making productions and prevent unsanctioned exports of food,” Zaichenko said.

Artificial price restraints would result in unprofitable production, speculative demand and unsanctioned exports.

“We have tightened control of price surge. We checked 2,500 businesses, and 1,400 appeared to have violated price formation procedures,” Zaichenko said.

Zaichenko said utility fees for Belarusians had increased by U.S. USD 9.1 in January-September; people cover only 31.4% of utility costs.