Russia Inflation


Inflation moderates for a fourth consecutive month

In September, consumer prices were flat over the previous month, as lower prices for food products and services were compensated by higher prices for non-food products. The reading contrasted the 0.2% drop recorded in August but was down from the 0.8% increase recorded in the same month last year. As a consequence, annual headline inflation fell from 8.2% in August to 7.2% in September, marking the fourth consecutive drop in inflation and the lowest reading since September 2010. That said, the core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.5% in September, inching up from the 0.4% increase recorded in August. Despite the monthly increase, annual core inflation dropped from August's 8.0% to 7.4% in September. The government is aiming for inflation to end the year between 7.0% and 7.5%.

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