Russia Inflation June 2022


Russia: Inflation falls to lowest level since February in June

July 11, 2022

Consumer prices fell 0.35% from the previous month in June, contrasting May's 0.12% rise. June's result marked the largest decline reading since August 2017. Looking at the details of the release, declining prices for food and non-food products more than offset higher prices for services.

Inflation fell to 15.9% in June below May’s 17.1%. June's reading marked the weakest inflation rate since February. Meanwhile, the trend pointed up, with annual average inflation coming in at 11.0% in June (May: 10.2%). Finally, core inflation fell to 19.2% in June, from the previous month's 19.9%.

FocusEconomics panelists see inflation averaging 17.0% in 2022, which is down 2.8 percentage points from last month’s estimate, and 9.7% in 2023.


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Russia Inflation Chart

Russia Inflation June 2022

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

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