The Eurasian Development Bank expects inflation in Belarus to remain at its current level in 2026. Last week, Belstat reported that annual inflation in 2025 stood at 6.8%.
“Food inflation slowed to 9% year on year after 9.9% year on year a month earlier. This was driven by a significant deceleration in price growth for seasonal vegetables and fruit — to 1.3% year on year from 12.7% year on year in November. Prices for non-food goods increased by 3% year on year (after 2.8% year on year in November). Inflation in the services sector accelerated to 8% year on year from 7.7% year on year a month earlier. Core inflation rose to 7.3% year on year after 7% year on year in November, interrupting a decline that had lasted four consecutive months,” the bank said in its weekly review of the economies of its member states.
The bank’s analysts believe that inflation in Belarus will remain close to the target level in 2026.
“Against the backdrop of strong consumer activity and an increase in the VAT rate in Russia, we expect inflation in 2026 to remain close to the updated target benchmark of 7%,” the EDB concluded.
The inflation target set for the government and the National Bank this year is no more than 7%.
