Russia Inflation August 2022


Russia: Inflation falls to lowest level since February in August

September 9, 2022

Inflation came in at 14.3% in August, down from July’s 15.1%. August's figure marked the weakest inflation rate since February. The moderation was broad-based. Prices for services, food products and non-food goods all rose at a softer pace in August compared to the previous month.

That said, annual average inflation rose to 12.3% in August (July: 11.7%). Meanwhile, core inflation fell to 17.7% in August, from the previous month's 18.4%.

Finally, consumer prices fell 0.52% from the previous month in August, a sharper drop than the 0.39% drop logged in July. August's result marked the weakest reading since August 2017.

FocusEconomics panelists see inflation averaging 14.9% in 2022, which is down 1.1 percentage points from last month’s estimate, and 8.2% in 2023.


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Russia Inflation Chart

Russia Inflation August 2022 0

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

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