Inflation in Russia

Russia Inflation | Economic News & Forecasts

Russia - Inflation

Inflation jumps to 18-month high in December

According to preliminary data, in December, consumer prices rose 0.8% from the previous month, above the 0.5% increase recorded in November and the sharpest rise in nearly three years. According to Rosstat, higher prices for food drove December’s result.

Inflation soared to 4.2% in December, above November’s 3.8% and the highest reading since June 2017. In addition, inflation ended 2018 above the Central Bank’s 4.0% target. A weak ruble has stroked price pressures, along with higher food prices in recent months. Inflation is expected to rise sharply in the first half of 2019 due to an increase in the VAT tax at the start of the year.

Annual average inflation edged up to 2.9% in December from November’s 2.7%.

FocusEconomics panelists see inflation ending 2019 at 4.3%, which is unchanged from last month’s forecast. For 2020, participants expect inflation to end the year at 3.8%.

Russia - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)6.8  7.8  15.5  7.1  3.7  

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Russia Inflation Chart

Russia Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.

Russia Facts

Bond Yield8.230.13 %Jan 16
Exchange Rate67.08-0.12 %Jan 16
Stock Market2,435-1.03 %Jan 16

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