Russia Inflation Rate at 17-Month Low

Consumer prices in Russia increased 8.1 percent year-on-year in February of 2016, compared to 9.8 percent growth in the previous month and below market expectations of 8.5 percent. It was the lowest figure since September of 2015, as cost of food, housing and transportation rose at a slower pace. On a monthly basis, prices went up by 0.6 percent.

Year-on-year, cost of food and non-alcoholic beverages increased by 6.0 percent (+9.2 percent in January); cost of housing and utilities rose by 9.0 percent (+9.4 percent) and prices of transportation went up by 5.7 percent (+6.9 percent). Additional upward pressure came from: clothing and footwear (+11.1 percent from +12 percent in January); recreation and culture (+12.0 percent from +12.2 percent); alcoholic beverages and tobacco (+11.4 percent from +12.1 percent); and furnishings and household equipment (+9.5 percent from +11 percent).

Meanwhile, annual core inflation rate went down to 8.9 percent from 10.7 percent in the previous month.

On a monthly basis, inflation rate slowed to 0.6 percent, from 1.0 percent in the previous month, led by higher prices of food (+0.7 percent), transportation (+0.6 percent), housing and utilities (+0.2 percent), clothing (+0.6 percent) and furnishings (+0.8 percent).

Russia Inflation Rate at 17-Month Low

Yekaterina Guchshina |
3/4/2016 1:14:07 PM