OREANDA-NEWS  On 04 December was announced, that Belarus’ core inflation was at 0.8% in October 2008. In the first ten months, core inflation accelerated 9.2%.

Staple food prices went up 1.5% on the month in October and 13.1% in January-October; non-food prices increased 0.6% and 5.5% and service prices went down 0.9% in October, but increased 7% in January-October.

Russia registered 1.3% core consumer inflation in October 2008 and 11.5% in January-October.

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].