Russia Inflation


Russia: Inflation accelerates in March

April 4, 2014

In March, consumer prices rose 1.0% over the previous month, which was up from the 0.7% rise recorded in February and marked the highest monthly increase since January 2013. The pick-up mainly stemmed from higher prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco. Annual headline inflation accelerated from 6.2% in February to 6.9% in March, which is above the Central Bank's 5.0% target for 2014. The core consumer price index, which excludes short-term price changes that are influenced by administrative and seasonal factors, rose 0.8% in March, which was above the 0.5% increase in February. Annual core inflation rose from 5.6% in February to 6.0% in March. FocusEconomics Consensus Forecast panelists see inflation ending 2014 at 5.8%, which is up 0.5 percentage points from last month's forecast. In 2015, participants expect inflation to ease to 5.1%.


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Russia Inflation Chart

Russia Inflation March 2014

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

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