Analysts at the Eurasian Development Bank (EDB) have linked the slowdown in annual inflation in Belarus in May to a deceleration in food price growth.
According to Belstat, annual inflation stood at 4.8% in May, down from 5.4% in April.
“The main factor was a slowdown in food price growth, to 4.9% year-on-year from 6.3% year-on-year a month earlier. This was largely due to a decline in fruit and vegetable prices, which fell by 7.8% year-on-year in May after increasing by 3.1% year-on-year in April,” the EDB said in its weekly review of the economies of member states.
At the same time, growth rates for non-food goods and services remained close to April levels.
“In our assessment, the decline in fruit and vegetable prices is partly related to a high base effect: in May–July 2025, prices in this category rose sharply by 13–15% year-on-year. We expect inflation to remain below the ceiling parameter of 7% by the end of 2026,” the EDB added.
