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