OREANDA-NEWS. On 26 January 2009 was announced, that Belarus’ core inflation was at 1% in December 2008, a source in the National Statistics Committee told.

In 2008, core inflation accelerated 11.7%.

Staple food prices went up 1.6% on the month in December and 16.9% in January-December; non-food prices increased 0.1% and 6.1% and service prices went up 1.6% in December, an increase of 10.5% in January-December 2008.

In Belarus, 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 National Statistics Committee].