Consumer prices in Belarus rose 0.7% in May, pushing annual inflation to 7.1%, according to data published by the National Statistical Committee, Belstat, on June 10. The latest figures show inflation outpacing government targets and accelerating from 6.5% in April and 5.9% in March.

Between January and May, cumulative inflation reached 4.5%, surpassing the government’s planned ceiling for the period by 1.5 percentage points. The Ministry of Anti-monopoly Regulation and Trade (MART) had capped permissible inflation for the five-month period at 3%, under a regulatory framework introduced earlier this year.

Core inflation,  which excludes regulated and seasonal prices, stood at 3.9% from December to May, and increased by 0.9% from April.

Food prices saw the sharpest increases, climbing 5.5% between January and May, including a 1.2% rise in May alone. Non-food items were up 2.4% in the same period, and 0.2% during the month. Prices for services rose 5.4% in the five-month period and 0.3% in May.

Despite efforts to control prices through extensive state regulation, inflationary pressures remain strong. Belarus continues to enforce price controls across most consumer goods and essential services.

Belarusian authorities had aimed to reduce annual inflation to 5% in 2025, following declines in recent years. Inflation slowed to 5.2% in 2024 from 5.8% in 2023 and 12.8% in 2022.

MART’s regulatory document sets progressive inflation limits throughout the year: 3.3% by the first half, 3.7% by the end of September, and a final cap of 5% for the full year.

The May figures suggest that authorities may need to tighten price controls further or revise policy measures to stay within the annual target.