Belarus to hand-control inflation

The Trade Ministry has suggested that retailers stopped purchasing products from suppliers, who sharply raised prices. Such a request is due to the anticipated reduction in the discount rate, the requirement to reduce the production costs by 25% and the need to meet the annual inflation plan at 12%. In January-March 2016, consumer prices in Belarus increased by 5.7%. In the near future, the range of goods is likely to decrease, administrative pressure on wholesale traders is likely to increase, profits of importers of goods are likely to decrease and inflation should reduce to 0.5-0.7% per month. The Trade Ministry will not apply sanctions for reduced assortment of goods if retailers refuse to purchase goods that are more expensive.