Belarus Inflation Hits 14-Month Low

Belarus’s annual inflation rate remained unchanged at 5.4% in April 2026, halting a four-month disinflation trend. Price growth slowed for food products (6.3% vs 7.8% in March) and non-food goods (2.0% vs 2.2%), while inflation for services accelerated sharply to 8.4% from 6.0%. On a monthly basis, consumer prices rose 0.8% in April, following a 0.6% increase in the previous month.

Belarus’s annual inflation rate eased to 5.4% in March 2026 from 5.6% in February, marking the fourth straight month of deceleration and the lowest rate since January 2025. Price growth slowed for food products (7.8% vs. 8.7%) but accelerated for services (6.0% vs. 5.4%) and non-food goods (2.2% vs. 2.1%). On a monthly basis, the CPI rose 0.6%, matching February’s pace.

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.