Russia Inflation May 2017

Russia

Russia: Inflation steady in May

June 6, 2017

In May, consumer prices in Russia rose 0.4% from the previous month, a notch above April’s 0.3% increase. According to the Federal State Statistics Service (Rosstat), the result was largely due to rising prices for food items and services.

Inflation was steady at April’s 4.1% in May, which was the lowest level since June 2012. A stabilization in the ruble has helped support easing price pressures and annual average inflation also declined from 5.9% in April to 5.6% in May.

Panelists see inflation ending 2017 at 4.1%, which is down 0.1 percentage points from last month’s forecast. For 2018, participants also expect inflation to end the year at 4.1%.


Author: Angela Bouzanis, Senior Economist

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