Russia: Inflation slows to lowest level in more than a year
October 4, 2013
In September, consumer prices rose 0.2% over the previous month, which was up from the 0.1% increase recorded in August. The pick-up stemmed mainly from higher prices for goods and, in particular, for food products. Annual headline inflation slowed from August's 6.5% to the current 6.1%, the lowest level since August 2012.
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.7% in September, which was above the 0.5% increase recorded in August. Annual core inflation was unchanged at August's 5.5%.
FocusEconomics Consensus Forecast panelists see inflation ending 2013 at 6.0%, which is unchanged from last month's forecast. In 2014, participants expect inflation to moderate to 5.8%, which is down 0.3 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions