Russia Inflation May 2022

Russia

Russia: Inflation softens in May

June 17, 2022

Consumer prices rose 0.12% over the previous month in May, slowing down from April's 1.56% rise. May's result marked the weakest reading since September 2020. Looking at the details of the release, prices for food products fell at a weaker pace in May. Prices for non-food products and services also dropped at a more moderate rate.

Inflation fell to 17.1% in May from April’s 17.8%. Meanwhile, the trend pointed up, with annual average inflation coming in at 10.2% in May (April: 9.3%). Finally, core inflation fell to 19.9% in May, from the previous month's 20.4%.

FocusEconomics panelists see inflation averaging 19.8% in 2022, which is down 1.0 percentage points from last month’s estimate, and 11.5% in 2023.


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Russia Inflation May 2022 1

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Federal State Statistics Service (Rosstat)


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