Russia Inflation


Inflation stable in August

In August, consumer prices rose 0.1% over the previous month, which was down from the 0.8% increase recorded in July and marked the slowest increase in a year. The moderation stemmed mainly from lower prices for goods and, in particular, for food products. Annual headline inflation was unchanged at July's 6.5%, the lowest level since November 2012.

The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.5% in August, which was above the 0.3% increase recorded in July. Annual core inflation eased from 5.6% in July to 5.5% in August.

FocusEconomics Consensus Forecast panelists see inflation ending 2013 at 6.0%, which is unchanged from last month's forecast. In 2014, participants expect inflation to moderate to 5.8%.

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Russia Inflation Chart

Russia Inflation August 2013

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Federal State Statistics Service (Rosstat).

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