Russia Inflation March 2020


Russia: Inflation rises for the first time in a year in March

April 6, 2020

In March, consumer prices rose 0.6% over the previous month, accelerating from February’s 0.3% rise and marking the highest increase since Febraury 2019. According to Rosstat, the overall upturn was chiefly led by higher prices for food products. Meanwhile, prices for non-food products rose at a milder pace in March, whereas prices for services remained virtually unchanged from the previous month.

Inflation edged up for the first time in 12 months clocking in at 2.5% in March, from a 20-month low of 2.3% in February. That said, annual average inflation fell to 3.8% at the end of the first quarter, from 4.0% in February.

FocusEconomics panelists see inflation ending 2020 at 4.2%, which is up 0.7 percentage points from last month’s forecast. For 2021, participants project inflation to end the year at 3.4%.

Author:, Research Team Manager

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Russia Inflation Chart

Russia Inflation March 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Federal State Statistics Service (Rosstat).

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