Russia Inflation Rate Hits New 2-Year High

Russia’s consumer price inflation increased to 5.3 percent year-on-year in March 2019, the highest since December 2016, from 5.2 percent in the previous month and slightly below market expectations of 5.4 percent.

Within the goods component, non-food products prices advanced 4.7 percent, slightly faster than 4.6 percent in the previous month; while food cost increased 5.9 percent, the same pace as in February. Also, services inflation was unchanged at 5.1 percent in March.

Annual core inflation rate went up to 4.6 percent in March from 4.4 percent in the previous month. It was the highest rate since February 2017.

On a monthly basis, consumer prices rose 0.3 percent, after a 0.4 percent gain in February and also missing market consensus of 0.4 percent. Upward pressure came from all main categories: food (0.5 percent vs 0.8 percent); non-food products (0.3 percent, the same as in February); and services (0.1 percent vs 0.2 percent).

Russia Inflation Rate Hits New 2-Year High

Federal State Statistics Service | Joana Ferreira |
4/5/2019 1:12:03 PM