Russia Inflation April 2020

Russia: Inflation jumps to five-month high in April

In March, consumer prices rose 0.8% over the previous month, accelerating modestly from March’s 0.6% rise and marking the largest increase since January 2019. According to Rosstat, the overall upturn was spearheaded by higher prices for food products. Meanwhile, prices for non-food products rose at a milder pace in April, whereas prices for services remained virtually stable from the previous month.

Inflation jumped to 3.1% in April, from 2.5% in March, marking the highest reading since November 2019. That said, annual average inflation continued to trend down at the outset of Q2, coming it at 3.6% in April, from 3.8% in March.

Commenting on the result, Dmitry Dolgin, chief economist at ING, noted:

“[The] acceleration of CPI appears temporary, as the exhaustion the effects of agro inflation and RUB depreciation, combined with mounting disinflationary pressure of demand, should bring Russian CPI back on the downward path in 2H20, provided no new shocks take place […] This is unlikely to prevent Bank of Russia from making at least one 50 bp cut, especially if the fiscal stance remains conservative”.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest