Belarus Inflation November 2020


Belarus: Inflation hits highest level since February 2017 in November

December 10, 2020

Consumer prices rose 0.66% over the previous month in November, picking up from the 0.59% increase logged in October. The slight uptick was driven by greater price increases for both food and services. Contrastingly, non-food price growth eased somewhat.

Inflation came in at 6.6% in November, which was up from October’s 6.2%. November's figure represented the highest inflation rate since February 2017. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 5.3% in November (October: 5.2%). Rising inflation in recent months is likely linked to the depreciation of the currency amid political instability.

FocusEconomics analysts project inflation to average 5.6% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022, the panel sees inflation averaging 5.4%.


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Belarus Inflation Chart

Belarus Inflation November 20 20 0

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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