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
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: Inflation softens in May
June 17, 2022
Consumer prices rose 0.12% over the previous month in May, slowing down from April's 1.56% rise.
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Russia: Services PMI improves in May
June 8, 2022
The IHS Markit Services Purchasing Managers’ Index (PMI) rose to 48.5 in May from April's 44.5.
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Russia: Manufacturing PMI improves in May
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.
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Russia: Central Bank slashes rate by further 300 basis points to 11.00% at the end of May
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%.
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Russia: Growth decelerates in Q1; worse to come in Q2
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.