Russia: Inflation remains stable in March
April 4, 2011
In March, consumer prices added 0.6% over the previous month, which was slightly below the 0.8% increase recorded in February and matched market expectations. Higher food prices were the main driver behind the monthly price increase. As a result of the relatively subdued March reading, annual headline inflation remained unchanged at February's 9.5%. The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.7% in March, lifting annual core inflation from 7.4% in February to 7.7% in March. The government has set a 7.0% inflation target for this year.
Author: Armando Ciccarelli, Head of Data Solutions