Russia Inflation October 2017

Russia

Russia: Inflation falls to fresh historical low in October

November 8, 2017

In October, consumer prices rose 0.2% from the previous month, which contrasted September’s 0.1% decrease. According to the Federal State Statistics Service (Rosstat), the result was largely due to higher prices for food products.

Inflation came in at 2.7% in October, below September’s 3.0% print and in line with market expectations. The print is the lowest in the country’s modern history and inflation is now further below the Central Bank of the Russian Federation’s target rate of 4.0%. Subdued price pressures are creating space for the Central Bank to loosen monetary policy. Annual average inflation declined from 4.5% in September to 4.2%, another historical low.

Panelists see inflation ending 2018 at 4.0%, which is unchanged from last month’s forecast. For 2018, participants expect inflation to end the year at 3.9%.


Author: Angela Bouzanis, Senior Economist

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Russia Inflation Chart


Russia Inflation October 2017

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


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