Inflation in Belarus 6.5% in 11M, annual figure quickens to 7% in Nov

MINSK. Dec 10 (Interfax) - Consumer prices in Belarus grew 0.4% in November after rising 0.3% in October and 0.5% in September, national statistical committee Belstat said.

Inflation was 6.5% in January-November.

Annual inflation rose to 7% in November from 6.9% in September. It had been 7.1% in September, 7.2% in August and 7.4% in July.

Core inflation was 6.9% in January-November and 0.3% in November alone.

Food prices rose 8.5% in January-November, including 0.8% in November. Non-food prices rose 2.8% and 0.02%, respectively, and services grew 7.7% and 0.01%.

Inflation in Belarus slowed to 5.2% in 2024 from 5.8% in 2023 and 12.8% in 2022. The government plans inflation of 7% or less in 2026.

Belarus continues to regulate prices for almost all goods in the consumer basket, as well as for basic services.

National Bank Governor Roman Golovchenko said on September 9 that the regulator would stand by its inflation target of no more than 5%, but that consumer price growth might exceed forecast this year and in subsequent years.