Inflation in Russia
Russia - Inflation
Inflation softens in May
Consumer prices rose 0.12% over the previous month in May, slowing down from April's 1.56% rise. May's result marked the weakest reading since September 2020. Looking at the details of the release, prices for food products fell at a weaker pace in May. Prices for non-food products and services also dropped at a more moderate rate.
Inflation fell to 17.1% in May from April’s 17.8%. Meanwhile, the trend pointed up, with annual average inflation coming in at 10.2% in May (April: 9.3%). Finally, core inflation fell to 19.9% in May, from the previous month's 20.4%.
FocusEconomics panelists see inflation averaging 19.8% in 2022, which is down 1.0 percentage points from last month’s estimate, and 11.5% in 2023.
Russia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||15.5||7.1||3.7||2.9||4.5|
5 years of economic forecasts for more than 30 economic indicators.
Russia Inflation Chart
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.
|Bond Yield||6.23||0.13 %||Dec 30|
|Exchange Rate||62.03||-0.12 %||Dec 30|
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June 17, 2022
Consumer prices rose 0.12% over the previous month in May, slowing down from April's 1.56% rise.
June 8, 2022
The IHS Markit Services Purchasing Managers’ Index (PMI) rose to 48.5 in May from April's 44.5.
June 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 50.8 in May, up from April's 48.2.
May 26, 2022
At an unscheduled meeting on 26 May, the Central Bank of the Russian Federation (CBR) cut its key interest rate from 14.00% to 11.00%.
May 18, 2022
GDP growth slumped to 3.5% year on year in the first quarter of 2022, according to a preliminary estimate released by Rosstat on 18 May.