Prices in Belarus Increased by 408%

Our country was among the three world "leaders" in terms of price increases over a decade.

Research data from UN experts indicates that, in 2019 (the latest known data at the time of writing), the highest price increases in the world were recorded in South Sudan (more than + 4500%), Venezuela (+ 1832%), and Belarus (408 %), Ezhednevnik writes.

Sudan (more than + 250%), Egypt (+ 188%), Ukraine (+ 180%), Nigeria (+ 167%) lagged behind Belarus. More information about inflation in the world can be found here in this document. In Russia, during this time, prices rose by 81%. In Poland - by 4%, and Lithuania - by 18.4%.

According to Scientific Opinion, most of the record holders saw a sharp jump in prices for the year.

By the way, Belarus remains among the leaders in its region in terms of price increases for 2020 and early 2021. Over the past year, Belarus ranked fifth in terms of inflation growth for 2020 among the countries of the former Soviet Union. Among the countries where inflation was higher than in our country are Uzbekistan (11.1%), Kyrgyzstan (9.7%), Tajikistan (9.4%), and Kazakhstan (7.5%), telegraf.by writes.

Our inflation rates for 2020 amounted to 7.36%. We managed to bypass such countries as Ukraine (5%), Russia (4.91%), Armenia (3.7%), Azerbaijan (2.6%), Georgia (2.4%), and Moldova (0.39%) ).

However, prices for goods and paid services in February 2021 in our country increased again by 1.9%, accelerating the annual inflation to 8.7%. These figures are published by Belstat in a monthly report.

What do the neighbors have?

In Russia, for example, inflation in February this year was 0.78%, and in Ukraine - 1%. In Poland, prices increased by 0.5%, in Latvia - 0.4%, and in Lithuania, in total, less - 0.2%.

Thus, the monthly inflation in Belarus is more than 3 times higher than the Polish one and 9 times the Lithuanian one.