Belarus Inflation February 2018


Belarus: Inflation up in February

March 12, 2018

Consumer prices rose 0.9% over the previous month in February, marginally up from January’s 0.8% month-on-month increase. The increase was primarily driven by the 2.5% mom jump in prices for services, which easily outpaced moderate increases in food and non-food goods prices.

Inflation accelerated to 4.9% in February, up from a more moderate 4.5% January, marking only the second increase in the last 12 months.

Core inflation ticked up from 0.8% in January to 0.9% in February. Following the Central Bank’s decision on 14 February to cut the refinancing rate from 11.0% to 10.5%, the Bank’s chairman of the Board Pavel Kallaur announced further cuts would be made in the coming months.

Belarus Inflation Forecast

FocusEconomics Consensus Forecast participants project inflation will average 7.1% in 2018, which is down 0.8 percentage points from last month’s forecast. For 2019, panelists also expect inflation to average 7.1%.

Author:, Research Team Manager

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Belarus Inflation Chart

Belarus Inflation February 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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