Russia: Inflation slows further in November
December 6, 2012
In November, consumer prices rose 0.3% over the previous month. The result came in below market expectations that prices would rise 0.5%, as they did in October. The moderation stemmed from a slower increase in the prices for services. As a result, annual headline inflation inched down from 6.5% in October to 6.4% in November, but remained above the 5.0% - 6.0% target range set by the Central Bank for this year.
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.5% in November, inching down from the 0.6% increase recorded in October. Despite the moderation, annual core inflation was unchanged at October's 5.8%.
Author: Armando Ciccarelli, Head of Data Solutions