Prices Rose In Belarus Unprecedentedly For Last 10 Years

Experts have explained why they will keep on rising.

The annual inflation will continue growing in Belarus, one of the reasons for which is the logistical problems, predict experts of the Eurasian Development Bank. They have also analyzed why prices in our country increased in March at a record rate for the last 10 years, writes zerkalo.io.

In March, prices rose by 6.1%. This is the highest monthly inflation in more than 10 years. The annual inflation rate accelerated to 15.9 per cent last year.

"This is mainly because of the weakening of the Belarusian ruble and the transportation and logistics difficulties," reports the EDB. "The price adjustment to changes in exchange rates has largely been completed, while the adjustment of logistics chains will continue to drive up costs".

Simply put, analysts believe that the currency market situation will not have a significant impact on price growth in the near future. As for arranging logistics, it seems to be about finding alternative delivery routes for Belarusian goods after the EU closed the door to our carriers because of sanctions and Ukraine - because of the war.

Earlier, the Ministry of Antimonopoly Regulation and Trade reported that the marked rise in prices in March was connected with the sanctions, growth of world prices for raw materials, weakening of the Russian ruble and acceleration of inflation processes in Russia and weakening of the Belarusian ruble.