Inflation in Russia
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 |
Russia Inflation Chart
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.
Russia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.23 | 0.13 % | Jan 16 |
| Exchange Rate | 67.08 | -0.12 % | Jan 16 |
| Stock Market | 2,435 | -1.03 % | Jan 16 |
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Economic News
Russia: Consumer confidence worsens in Q4
January 17, 2019
The consumer confidence index published by the Federal Statistics Service (Rosstat) dropped to minus 17 points in the final quarter of 2018, deteriorating from the third quarter’s minus 14 points.
Russia: Manufacturing and services PMIs fall modestly in December
December 29, 2018
Leading indicators suggest that business conditions in Russia weakened slightly at the end of 2018.
Russia: Inflation jumps to 18-month high in December
December 29, 2018
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.
Russia: Rosstat revises Q3 growth up slightly
December 29, 2018
A comprehensive estimate of national accounts data released by Rosstat on 29 December revealed that the Russian economy grew 1.5% over the same period of the previous year in the third quarter of 2018, slightly above the preliminary reading of a 1.3% expansion.
Russia: Export growth accelerates in October
December 22, 2018
Merchandise exports totaled USD 41.3 billion in October, which represented a robust 30.8% expansion from the USD 31.6 billion sum recorded in the same month in 2017.
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