Russia: Inflation rises in March
April 5, 2019
In March, consumer prices rose 0.3% from the previous month, broadly unchanged from the 0.4% increase recorded in February. According to Rosstat, price pressures were broadly unchanged for services, while higher prices for food products continued to drive the overall increase.
Meanwhile, inflation edged up to 5.3% in March, from February’s 5.2% and marking the highest reading since December 2016. Although, January’s VAT hike has pushed up inflation, the overall effects have been milder than expected, partly due to weak demand dynamics so far this year.
Annual average inflation rose to 3.6% in March, from February’s 3.4%.
Russia Inflation Forecast
FocusEconomics panelists see inflation ending 2019 at 4.6%, which is unchanged from last month’s forecast. For 2020, participants expect inflation to end the year at 3.9%.