Russia Inflation July 2018

Russia

Russia: Inflation edges up in July

August 6, 2018

In July, consumer prices rose 0.3% from the previous month, slightly below June’s 0.5% increase. According to Rosstat, prices for food products fell in the month, however, higher prices were recorded for services and non-food goods.

Inflation rose to 2.5% in July, above June’s 2.3% but still a historically low level. Price pressures remain subdued and inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation fell from 2.7% in June to 2.5%, the lowest level in the country’s modern history.

Panelists see inflation ending 2018 at 3.6%, which is unchanged from last month’s forecast. For 2019, participants expect inflation to end the year at 4.0%.


Author: Angela Bouzanis, Lead Economist

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