Russia Inflation Rate Up to 9-Month High

In March of 2014, Russian annual inflation rate rose for the second straight month to 6.9 percent, up from 6.2 percent in February, driven by higher cost of milk, fruit, electricity and gas.

Year-on-year, the highest upward pressure came from prices of alcoholic beverages and tobacco (14 percent), followed by food prices (7.9 percent) and housing, water, electricity and gas (8.6 percent).

Among food prices, cost of butter, milk and fruit and vegetables rose the most on the year (22.9 percent, 17.4 percent and 15.9 percent, respectively). Electricity and gas prices increased 11.6 percent.

On a monthly basis, consumer prices accelerated 1 percent, up from a 0.7 percent rise in the previous month. Food prices surged 1.8 percent, while cost of services increased 0.5 percent and non-food prices rose 0.7 percent. 

Core inflation rate accelerated to an annual 6 percent from 5.6 percent in the previous month. 

Russia Inflation Rate Up to 9-Month High

Joana Taborda |
4/4/2014 2:27:35 PM