Russia: Inflation slows in March
April 4, 2013
In March, consumer prices rose 0.3% over the previous month, which was half the 0.6% increase recorded in February. The moderation stemmed from lower growth in prices for both goods and services. As a result of the subdued monthly rise, annual headline inflation slowed from 7.3% in February to 7.0% in March.
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.4% in March, mirroring the result recorded in February. Annual core inflation inched down from 5.7% in February to 5.6% in March.
The government expects inflation to end this year at between 5.0% and 6.0%, while expecting it to end 2014 in a range of between 4.0% and 5.0%. FocusEconomics Consensus Forecast panellists 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%.
Author: Armando Ciccarelli, Head of Data Solutions