Russia: Inflation plunges in November to lowest level in nearly four years
December 7, 2016
In November, consumer prices in Russia increased 0.4% from the previous month, which mirrored October’s reading. Higher prices were recorded for food products as well as clothing and footwear goods, while prices for services were flat compared to the previous month.
Inflation fell from 6.1% in October to 5.8% in November, which met market expectations and marked the lowest level since July 2012. Russia’s Central Bank has played an important role in bringing down inflation.
The inflation trend confirms the downward trajectory: annual average inflation fell from 8.5% in October to 5.8% in November.