Belarus Inflation Rate Slows to 1-Year Low

Belarus’s annual inflation rate decelerated for the third month to 5.6% in February 2026, down from 6.4% in January. This marked the softest inflation rate since February last year, amid slowing prices of services (5.4% vs 8.2% in January) and non-food products (2.1% vs 2.5%). Conversely, food inflation inched up to 8.7% from 8.6% in the prior month. On a monthly basis, the CPI rose by 0.6%, after a 0.5% increase in the prior month.

Belarus’s annual inflation rate eased to 6.4% in January 2026 from 6.8% in December, the slowest pace since March 2025. The slowdown reflected softer price growth in food products (8.6% vs 9.0%) and non-food items (2.5% vs 3.0%). In contrast, services inflation edged up to 8.2% from 8.0%. On a monthly basis, consumer prices rose 0.5%, following a 0.4% increase in December.

The annual inflation rate in Belarus slowed to 6.8% in December, the slowest pace since April 2025, easing from 7.0% in the previous month. The moderation was driven by slower price growth in food products (9.0% vs 9.9% in November), partially offset by faster increases in non-food products (3.0% vs 2.6%) and services (8.0% vs 7.7%). On a monthly basis, consumer prices rose 0.3%, following a 0.4% gain in November. For the full year 2025, consumer prices climbed 6.7% year-on-year, accelerating from 5.7% in 2024.