Russia Inflation September 2022

Russia: Inflation falls to lowest level since February in August

Inflation came in at 14.3% in August, down from July’s 15.1%. August’s figure marked the weakest inflation rate since February. Looking at the details of the release, services prices growth dropped in August compared to the previous month, while price pressures for non-food products remained relatively weak.

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% dip logged in July. August’s result marked the sharpest decrease since August 2017.

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