Belarus: Inflation, GDP deflator, linked series (annual % growth)

Key figures

What the numbers say

In 2025, Belarus' inflation, GDP deflator, linked series (annual % growth) fell 1.25 percentage points on 2024 (from 12.17% to 10.92%).

Across the 30 yearly changes before that (1995 to 2024), the average change was −64.45 percentage points and a typical year strayed about 261.89 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 920.4 percentage points in 1992 and the biggest yearly fall was 1,284.24 percentage points in 1995. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 there is no clear straight-line trend: a straight line explains 12% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Belarus had the 24th highest value of the 186 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Belarus in the 2025 ranking

• Kyrgyz Republic — 20th of 186: 12.4%
• São Tomé and Principe — 21st of 186: 11.94%
• Uzbekistan — 22nd of 186: 11.85%
• Kazakhstan — 24th of 186: 9.61%
• Burkina Faso — 25th of 186: 8.84%
• Madagascar — 26th of 186: 8.38%

What this measures

Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

All 35 values

Inflation, GDP deflator, linked series (annual % growth) in nearby economies

• Albania — 1.45% (2025)
• Andorra — 2.63% (2025)
• Armenia — 3.57% (2025)
• Austria — 3.15% (2025)
• Azerbaijan — 0.57% (2025)
• Belgium — 2.56% (2025)
• Bosnia and Herzegovina — 3.01% (2025)
• Bulgaria — 7.41% (2025)
• Channel Islands — 5.75% (2023)

More financial sector data for Belarus

• GDP deflator (base year varies by country) — 134.42 (2025)
• GDP deflator, linked series (base year varies by country) — 134.42 (2025)
• DEC alternative conversion factor (LCU per US$) — US$3.07 (2025)
• Inflation, GDP deflator (annual % growth) — 10.92% (2025)
• Consumer price index (2010 = 100) — 801.16 (2025)
• Lending interest rate (%) — 10.95% (2025)
• Real interest rate (%) — 0.03% (2025)
• Inflation, consumer prices (annual % growth) — 6.6% (2025)
• Deposit interest rate (%) — 6.76% (2025)
• Interest rate spread (lending rate minus deposit rate, %)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Belarus's inflation, GDP deflator, linked series (annual % growth)?

10.92% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1991?

It is down 99.46 percentage points from 110.38% in 1991. The highest value was 1,946% in 1994 and the lowest 8.05% in 2023.

How does Belarus rank?

24th highest of 186 economies with data for 2025.

Is the latest change in inflation, GDP deflator, linked series (annual % growth) unusual for Belarus?

In 2025, Belarus' inflation, GDP deflator, linked series (annual % growth) fell 1.25 percentage points on 2024 (from 12.17% to 10.92%). Across the 30 yearly changes before that (1995 to 2024), the average change was −64.45 percentage points and a typical year strayed about 261.89 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GDP.DEFL.KD.ZG.AD, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD); World Economic Outlook database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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