Russia: Inflation falls to new historic low
March 5, 2012
In February, consumer prices rose 0.4% over the previous month, which was below both January's 0.5% rise and the 0.8% rise recorded in February last year. Consequently, annual headline inflation dropped from January's 4.2% to 3.7%, marking a new post-Soviet historic low. The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.4% in February, a notch below the 0.5% rise recorded in January. Despite the monthly increase, annual core inflation dropped from January's 6.0% to 5.7% in February. The government expects inflation to end the year between 5.5% and 6.0%.
Author: Armando Ciccarelli, Head of Data Solutions