Russia: Inflation stable in August
August 4, 2013
In August, consumer prices rose 0.1% over the previous month, which was down from the 0.8% increase recorded in July and marked the slowest increase in a year. The moderation stemmed mainly from lower prices for goods and, in particular, for food products. Annual headline inflation was unchanged at July's 6.5%, the lowest level since November 2012.
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.5% in August, which was above the 0.3% increase recorded in July. Annual core inflation eased from 5.6% in July to 5.5% in August.
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%.
Author: Armando Ciccarelli, Head of Data Solutions