Belarus’s annual inflation rate slowed to 6.4% in January 2026 from 6.8% in December, marking the weakest pace since March 2025. The deceleration was driven by more moderate price increases for food products (8.6% vs. 9.0%) and non-food items (2.5% vs. 3.0%). In contrast, services inflation inched up to 8.2% from 8.0%. On a monthly basis, consumer prices rose 0.5%, after a 0.4% increase in December.