Russia Inflation June 2018

Russia

Russia: Inflation inches down in June

July 11, 2018

In June, consumer prices rose 0.5% from the previous month, slightly above May’s 0.4% increase and market expectations of a 0.4% rise. According to Rosstat, the acceleration in price pressures was driven largely by higher prices for services.

Inflation inched down to 2.3% in June, a historically low level (May: 2.4%). Price pressures remain subdued and inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation fell from 2.8% in May to 2.7%, the lowest level in the country’s modern history.

Panelists see inflation ending 2018 at 3.7%, which is unchanged from last month’s forecast. For 2019, participants expect inflation to end the year at 4.1%.


Author: Angela Bouzanis, Senior Economist

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Russia Inflation June 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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