Russia Inflation


Inflation ends the year above government's expectations

In December, consumer prices rose 0.8% over the previous month, mirroring the result seen in November. Higher prices for food products were the primary drivers behind the reading. As a result of the monthly price spike, annual headline inflation jumped from 8.1% to 8.8%, which was above government expectations that inflation would end the year at 8.5%. The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.7% in December, lifting annual core inflation from 6.2% in November to 6.6% in December. The government expects inflation to end the year within a 6.0% - 7.0% range, and for year-end inflation to fall within a 5.0% - 6.0% range in 2012.

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