Inflation in Russia
Russia - Inflation
Inflation ticks down to 20-month low in February
In February, consumer prices rose 0.3% over the previous month, down slightly from January’s 0.4% increase. According to Rosstat, the overall increase was led by higher prices for services, and fruits and vegetables, while prices for both non-food goods and food products excluding fruits and vegetables remained unchanged from the previous month.
Inflation ticked down to 2.3% in the second month of the year, from 2.4% in January, marking the 11th consecutive month of falling inflation and the new lowest reading since June 2018. Lastly, annual average inflation dipped to 4.0% in Febraury, from 4.3% in the first month of the year.
FocusEconomics panelists see inflation ending 2020 at 3.5%, which is down 0.2 percentage points from last month’s forecast. For 2021, participants project inflation to end the year at 3.7%.
Russia - Inflation Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 7.8 | 15.5 | 7.1 | 3.7 | 2.9 |
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: Plunging ruble prompts Central Bank to pause despite looming economic downturn
March 20, 2020
At its 20 March meeting, the Board of Directors of the Central Bank of the Russian Federation (CBR) kept the key interest rate stable at an over six-year low of 6.00%.
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Russia: Industrial production gains traction in February
March 17, 2020
Industrial output jumped 3.3% year-on-year in February, accelerating from January’s 1.1% increase and marking the strongest expansion since September 2019. A rebound in mining and quarrying activity and sturdier output growth in the all-important manufacturing sector led the overall upturn in the second month of this year.
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Russia: Trade surplus continues shrinking in January amid contracting exports
March 13, 2020
Merchandise exports contracted for the ninth consecutive month at the outset of the year, falling 4.3% year-on-year and totaling USD 29.5 billion in January (December: -3.0% year-on-year).
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Russia: Ruble slumps at 2020 outset as coronavirus fears mount and oil prices dive
March 9, 2020
The Russian ruble lost significant ground against the U.S. dollar in the opening months of the year, weighed on by plunging global oil prices and a softening GDP growth outlook amid fears over the full impact of the coronavirus outbreak.
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Russia: Inflation ticks down to 20-month low in February
March 6, 2020
In February, consumer prices rose 0.3% over the previous month, down slightly from January’s 0.4% increase.
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