Inflation Belarus 2018
Average inflation: 4.9%
Inflation in 2018
Inflation is high at 4.9%, well above the ECB target.
Peak and Trough
The highest inflation was in September at 5.6%. The lowest inflation was in June at 4.1%.
- Highest month
- September: 5.6%
- Lowest month
- June: 4.1%
- Difference
- 1.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 12.5%. The lowest price increase was in Core inflation with an average of 3.6%.
- Highest increase
- Energy: 12.5%
- Lowest increase
- Core inflation: 3.6%
Historical Context
Inflation is 6.0 percentage points lower than the 5-year average of 10.9%. This approaches the lowest level since records began (4.9% in 2018).
- 5-year average
- 10.9%
- 10-year average
- 21.4%
- All-time high (2012)
- 67.5%
- All-time low (2018)
- 4.9%
Trend
Over the period 2016-2018, inflation shows a downward trend. Compared to 2017, inflation has fallen by 1.2 percentage points.
- Change vs. previous year
- -1.2 percentage points
- Largest monthly swing
- January: -5.0 percentage points
ECB Target
Inflation is 2.9 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for BYN 100 this year will cost approximately BYN 104.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2018
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2017 |
|---|---|---|
| January | 4.5% | -5.0 |
| February | 4.9% | -2.1 |
| March | 5.4% | -1.0 |
| April | 5.0% | -1.3 |
| May | 4.4% | -1.7 |
| June | 4.1% | -2.4 |
| July | 4.1% | -1.9 |
| August | 5.0% | -0.3 |
| September | 5.6% | +0.7 |
| October | 4.9% | -0.4 |
| November | 5.0% | +0.1 |
| December | 5.6% | +1.0 |
| Average | 4.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.