Russia Inflation February 2023

Russia: Inflation declines to lowest level since February 2022 in February

Inflation came in at 11.0% in February, which was down from January’s 11.8%. February’s reading marked the weakest inflation rate since February 2022. The downturn was broad-based, with prices for food goods, non-food goods and services rising at a softer pace mid-way through Q1.

The trend pointed up slightly, with annual average inflation coming in at 14.1% in February (January: 14.0%). Meanwhile, core inflation fell to 12.7% in February, from January’s 13.7%.

Lastly, consumer prices rose 0.46% from the previous month in February, below the 0.84% increase logged in January.

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