Belarus: Inflation falls to lowest level since the start of the war in January
Inflation dropped to 12.0% in January, below December’s 12.8%. January’s result marked the lowest inflation rate since February 2022. The decline came on the back of a broad-based deceleration across most subcomponents.
Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 15.3% in January (December: 15.2%).
Finally, consumer prices increased 0.76% over the previous month in January, accelerating from the 0.42% increase seen in December. January’s uptick was the highest reading since September 2022.
FocusEconomics analysts project inflation to average 11.6% in 2023, which is down 0.4 percentage points from last month’s forecast. In 2024, the panel sees inflation averaging 9.2%.