Russia: Inflation slows in January
February 5, 2014
In January, consumer prices rose 0.6% over the previous month, which was up from the 0.5% rise recorded in December. The pick-up mainly stemmed from higher prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco. Annual headline inflation slowed from 6.5% in December to 6.1% in January, which is above the Central Bank's 5.0% target for 2014.
The core consumer price index, which excludes short-term price changes that are influenced by administrative and seasonal factors, rose 0.4% in January, mirroring the result recorded in December. Annual core inflation inched down from 5.6% in December to 5.5% in January.
FocusEconomics Consensus Forecast panelists see inflation ending 2014 at 5.0%, which is unchanged from last month's forecast. In 2015, participants expect inflation to inch up to 5.2%.
Author: Armando Ciccarelli, Head of Data Solutions