Russia Inflation January 2020


Russia: Inflation dips to 19-month low in January

February 6, 2020

In January, consumer prices rose 0.4% over the previous month, matching December’s increase. According to Rosstat, the overall increase was led by higher prices for food products, especially fruits and vegetables, while prices for non-food goods and services also ticked up, albeit marginally.

Inflation fell to 2.4% in the first month of the year, from 3.0% in December, marking the tenth consecutive month of falling inflation and the lowest reading since June 2018. Lastly, annual average inflation dipped to 4.3% in January, from 4.5% in the previous month.

FocusEconomics panelists see inflation ending 2020 at 3.7%, which is down 0.1 percentage points from last month’s forecast. For 2021, participants project inflation to end the year at 3.8%.

Author:, Economist

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