Inflation in Russia
Russia - Inflation
Inflation hits highest level since October 2019 in August
Consumer prices recorded zero growth in August over the previous month, coming in below the 0.35% rise seen in July. Falling prices for goods and food products were balanced out by rising prices for services. August's result marked the in prices since September 2019.
Inflation came in at 3.6% in August, up from July’s 3.4%. August's reading marked the highest inflation rate since October 2019 amid higher food prices. Meanwhile, the trend was unchanged with annual average inflation coming in at July's 3.2% in August. Core inflation ticked up to 3.1% from the previous month's 3.0%.
FocusEconomics panelists see inflation ending 2020 at 3.8%, which is unchanged from last month’s forecast. For 2021, participants project inflation to end the year at 3.5%.
Russia - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 15.5 | 7.1 | 3.7 | 2.9 | 4.5 |
Russia Inflation Chart
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.
Russia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.23 | 0.13 % | Dec 30 |
| Exchange Rate | 62.03 | -0.12 % | Dec 30 |
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Economic News
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Russia: Industrial production contracts again in August
September 15, 2020
Industrial output dropped 7.2% year-on-year in August (July: -8.0% yoy).
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Russia: Inflation hits highest level since October 2019 in August
September 4, 2020
Consumer prices recorded zero growth in August over the previous month, coming in below the 0.35% rise seen in July.
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Russia: Manufacturing PMI jumps into expansionary territory, while services PMI recedes slightly in August
September 3, 2020
The IHS Markit Russia Manufacturing PMI jumped to 51.1 in August, pointing to expansionary conditions in the sector for the first time since April 2019 (July: 48.4).
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Russia: Merchandise exports fall at a more moderate pace in June
August 17, 2020
Merchandise exports shrank 25.3% on annual basis in June, on the heels of May’s 35.5% plunge which had marked the sharpest decline since January 2016.
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Russia: Decline in industrial output softens in July
August 17, 2020
Industrial production fell 8.0% year-on-year in July (June: -9.4% yoy).
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