OREANDA-NEWS  On 02 October was announced, that Belarus’ core inflation was at 0.7% in August 2008.

In the first eight months, core inflation accelerated 6.8%.

Staple food prices went up 0.9% on the month in August and 9.1% in January-August; non-food prices increased 0.6% and 4.2% and service prices went up 0.1% and 7.5%.

Russia registered 1% core consumer inflation in August 2008 and 8.6% in January-August.

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 Statistics Ministry].