A posting on Bolt's Web site said the sprinter was examined by doctors Monday, who said a tightness in Bolt's back restricts his running style and could lead to leg injuries if Bolt kept competing.
He will miss meets Aug. 19 in Zurich, Switzerland, and Aug. 27 in Brussels.
"I am very disappointed to miss two of the top meetings on the circuit but trust that it is better for me not to take any risks this year," Bolt said in a statement. "2011 and 2012 are very important championship years and I hope to be back fully fit and healthy."
Bolt finished second to U.S. sprinter Tyson Gay in the 100 meters last Friday. It was his first loss in an individual event in two years.
Bolt, who turns 24 on Aug. 21, won gold medals in the 100 and 200 meters at the 2008 Olympics in Beijing. He owns the world records in the 100 at 9.58 seconds and 200 at 19.19 seconds.