Russia: Inflation remains unchanged at historic low
April 4, 2012
In March, consumer prices rose 0.6% over the previous month, which was above the 0.4% increase recorded in February. The reading was mainly driven by a pick-up in food prices. Despite the monthly price rise, annual headline inflation remained unchanged at the 3.7% recorded in February, which represents a post-Soviet era record low. The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.5% in March, a notch above the 0.4% rise recorded in February. Despite the monthly increase, annual core inflation dropped from February's 5.7% to 5.5% in March. The government expects inflation to end the year between 5.5% and 6.0%.
Author: Armando Ciccarelli, Head of Data Solutions