Russia Inflation Rate at 14-Month Low

Consumer prices in Russia increased 9.8 percent year-on-year in January of 2016, down from 12.9 percent in the previous month, slightly below market expectations. It was the lowest reading since November of 2014, as cost of food, housing and transportation rose at a slower pace. On a monthly basis, prices went up by 1.0 percent.

Year-on-year, cost of food and non-alcoholic beverages increased by 9.2 percent (+14.8 percent in December); cost of housing and utilities rose by 9.4 percent (+9.9 percent) and prices of transportation went up by 6.9 percent (+9.8 percent). Additional upward pressure came from: clothing and footwear (+12 percent from +13.0 percent in December); recreation and culture (+12.2 percent from +14 percent); alcoholic beverages and tobacco (+12.1 percent from +13.4 percent); and furnishings and household equipment (+11 percent from +14.7 percent).

Meanwhile, annual core inflation rate went down to 10.7 percent from 13.7 percent in the previous month.

On a monthly basis, inflation went up to 1.0 percent, following 0.8 percent growth in the previous month, boosted by higher prices of food (+1.4 percent), transportation (+0.6 percent), housing and utilities (+0.4 percent), clothing (+0.5 percent), alcoholic beverages and tobacco (+0.7 percent) and furnishings (+0.8 percent).

Russia Inflation Rate at 14-Month Low

Yekaterina Guchshina |
2/5/2016 1:17:29 PM