Russia Inflation August 2018


Russia: Inflation hits one-year high in August

September 5, 2018

In August, consumer prices were unchanged from the previous month, contrasting the 0.3% month-on-month rise recorded in July. According to Rosstat, lower prices for food products were balanced out by rising prices for services and non-food goods.

Inflation rose to 3.1% in August, from 2.5% in July. August’s result marked the highest inflation in one year. However, price pressures remain subdued in a historical context and inflation lies below the Central Bank’s target of 4.0%. Annual average inflation was unchanged at July’s 2.5%, the lowest level in the country’s modern history.

Panelists see inflation ending 2018 at 3.6%, which is unchanged from last month’s forecast. For 2019, participants expect inflation to end the year at 4.1%, which is also unchanged from the previous month’s forecast.


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Russia Inflation Chart

Russia Inflation August 2018

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

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