Russia: Inflation picks up in October
November 6, 2013
In October, consumer prices rose 0.6% over the previous month, which was an increase over the 0.2% rise recorded in September. The pick-up stemmed mainly from higher prices for goods and, in particular, for food products. Annual headline inflation rose from September's 6.1% to the current 6.3%
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.6% in October, which was below the 0.7% increase recorded in September. Annual core inflation was unchanged at September's 5.5%.
FocusEconomics Consensus Forecast panelists see inflation ending 2013 at 6.0%, which is unchanged from last month's forecast. In 2014, participants expect inflation to moderate to 5.8%, which is down 0.3 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions