Russia Inflation December 2020


Russia: Inflation hits highest level since May 2019 in December

December 31, 2020

Consumer prices increased 0.80% in December over the previous month, picking up from the 0.71% rise recorded in November. December's reading marked the sharpest increase in prices since April. The increase was chiefly driven by rising food prices.

Inflation came in at 4.9% in December, up from November’s 4.4%. December's figure marked the highest inflation rate since May 2019. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.4% in December (November: 3.2%).

FocusEconomics panelists see inflation ending 2021 at 3.5%, which is unchanged from last month’s forecast. For 2022, participants project inflation to end the year at 3.7%.


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Russia Inflation Chart

Russia Inflation December 20 20

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

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