Belarus: “Ridiculous” prices still on the rise but maybe a small glimmer of hope

11.08.2025

Article published on the zerkalo.io website

According to the country’s National Statistics Committee, Belarus’s annual inflation rate rose to 7.4% in July (from 7.3% the previous month). In particular, the cost of food went up by 10.6% over the same period (10.5% in June). Annual inflation for non-food products in July was 3% and 0.7% for fee-based services.

Prices in July went up by 0.2% compared to May, by 0.02% for food products (there was an increase of 1.6% in June compared to May), by 0.1% for non-food products and by 0.7% for fee-based services.

The country’s inflation rate had been at 5.6% since the start of the year. Food products have risen in price the most over the last seven months by 7.3%.

Strict price regulation introduced in October 2022 to keep inflation in single-figures was relaxed in April this year, resulting in a sharp rise in inflation. Experts had previously said that Belarussian officials would agree to an easing of price controls in order to improve company finances through “accumulated price costs”.

In April last year, Alexander Lukashenko said he was unsure what the outcome of State regulated prices introduced in 2022 would be. “But, if the Government is successful, it will have been an interesting experiment in market economics”, he said.

The authorities plan to keep inflation under 5% this year.

Source: https://news.zerkalo.io/economics/105977.html