Russia: Inflation rises from historic low in March
In March, consumer prices rose 0.3% from the previous month, a notch above the 0.2% month-on-month increase observed in February. According to Rosstat, prices for food recorded the largest rise in March, driving the index’s reading.
Inflation rose from February’s historic low of 2.2% to 2.4% in March. Despite the rise, price pressures remain subdued and inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation also declined from 3.3% in February to 3.1% in March, a historical low.