Inflation expected at 14 percent by year end: Belarus economy ministry

The inflation in Belarus can reach 14 percent by the end of 2008, Tatsiana Starchanka, Belarus's deputy economy minister, said in a statement. She admitted that inflation could not be contained within 6-8 percent, reports Belapan.

In the first half of 2008, inflation in Belarus hit 7.3 percent, with foodstuff prices accounting for 3.4 percent of inflation and utilities bills making 2.2 percent of the inflation total.

Fuel and foodstuff soaring prices at the world markets are named as the main factors to contribute to inflation. In June 2008, the government in Belarus said it was developing measures to curb inflation and contain it within 9-10 percent by the end of the year.