Russia Inflation Rate at Near 2-Year Low

Consumer prices in Russia increased 7.3 percent year-on-year in March of 2016, slowing from 8.1 percent growth in the previous month and below market expectations of 7.5 percent. It was the lowest reading since April of 2014, pulled down by cost of food, housing and clothing. On a monthly basis, prices edged up by 0.5 percent.

Year-on-year, cost of food and non-alcoholic beverages increased by 4.7 percent (+6.0 percent in February); cost of housing and utilities rose by 8.7 percent (+9.0 percent) and prices of clothing and footwear grew 10.3 percent (+11.1 percent). Additional upward pressure came from: transportation (+5.7 percent, unchanged from February); recreation and culture (+11.6 percent from +12.0 percent); alcoholic beverages and tobacco (+10.7 percent from +11.4  percent); and furnishings and household equipment (+8.5 percent from +9.5 percent).

Meanwhile, annual core inflation rate went down to 8.0 percent from 8.9 percent in the previous month.

On a monthly basis, inflation rate slowed to 0.5 percent, from 0.6 percent in the previous month, led by higher prices of food (+0.3 percent), transportation (+0.7 percent), housing and utilities (+0.1 percent), clothing (+0.8 percent) and furnishings (+0.7 percent).

Russia Inflation Rate at Near 2-Year Low

Federal State Statistics Service | Yekaterina Guchshina |
4/5/2016 2:22:33 PM