Belarus Inflation March 2018


Belarus: Inflation accelerates in March

April 12, 2018

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.

FocusEconomics Consensus Forecast participants project inflation will average 6.4% in 2018, which is down 0.5 percentage points from last month’s forecast. For 2019, panelists also expect inflation to average 6.5%.

Author:, Research Team Manager

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Belarus Inflation Chart

Belarus Inflation March 2018

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Statistical Committee of the Republic of Belarus (BELSTAT).

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