Russia Inflation January 2018


Russia: Inflation edge down in January

February 2, 2018

In January, consumer prices rose 0.3% from the previous month, a notch below the 0.4% month-on-month rise observed in December. According to the Federal State Statistics Service (Rosstat), the result largely reflected a smaller rise in prices for foodstuffs.

Inflation remained edged down to a new historic low of 2.2% in January, below December’s 2.5%. Price pressures have fallen notably in 2017, in part due to a solid performance by the ruble. Inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation also declined from 3.7% in December to 3.5% in January, another historical low.

Panelists see inflation ending 2018 at 4.0%, which is unchanged from last month’s forecast. For 2019, participants expect inflation to also end the year at 4.0%.


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Russia Inflation Chart

Russia Inflation January 2018

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

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