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Retail

Belarus Freezes Prices Of Key Social Items In Inflation Battle

Belarus has levied price restrictions on socially important goods and some medicines from Wednesday, the government said in a decree, as authorities grapple with accelerating inflation.

The decree, published on the government's legal portal, fixed a ban until 1 March on rises in the price of 62 products, such as bread, pork and beef, as well as 50 medicines.

From 1 March, price rises for such products are limited to 0.2% each month, it added.

In January, inflation quickened to 7.7% in annual terms. The authorities have said they expect year-end inflation not to exceed a central bank target of 5%.

Similar curbs were introduced last year to hold down prices during the COVID-19 pandemic but were soon lifted.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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