February 25, 2021

Belarus levies price restrictions on 62 products such as pork and beef in inflation battle

The Belarus government has levied price restrictions on 62 products including pork and beef, as well as 50 medicines as the country battles increasing inflation, Reuters reported.

From March 1, any price increase for the specified products can only be increased by 0.2% per month.

Inflation in Belarus rose 7.7% in January (in annual terms). The government estimates year-end inflation not to surpass a 5% target by the central bank.

This is not the first time Belarus imposed price restrictions. Last year, similar restrictions were introduced during the COVID-19 pandemic, but those restrictions have been lifted.

- Reuters