Belarus: Inflation accelerates in March
Consumer prices increased 0.8% over the previous month in March, marginally down from February’s 0.9% month-on-month increase. The rise was broad-based, with prices for services, food and non-food goods all growing moderately from the previous month.
Inflation accelerated to an eight-month high of 5.4% in March, from February’s 4.9%. Nevertheless, annual average inflation ticked down marginally from the previous month’s 5.5% to 5.4% in March.
Meanwhile, core inflation also gathered pace in March, coming in at 1.4% compared to 0.9% in February. Last cut by 50 basis points to 10.5% on 14 February, the refinancing rate has remained steady in March, amid modestly increasing inflationary pressures. However, according to the Central Bank’s latest communiqué, further rate cuts are expected in the coming months.