Russia Inflation Rate Picks Up from Record Low to 2.4%

Russia's consumer price inflation increased to 2.4 percent year-on-year in March 2018 from a record low of 2.2 percent in the previous month and in line with market expectations. Still, inflation remained well below the central bank's target of 4 percent.

Within the goods component, food inflation picked up to 1.3 percent from 0.9 percent in the previous month; while prices of non-food products rose by 2.4 percent, softer than a 2.5 percent gain in February. Also, cost of services went up by 3.9 percent in March, faster than a 3.7 percent increase in the precedent period.

Meanwhile, annual core inflation rate declined to a new all-time low of 1.8 percent in March from 1.9 percent in the previous month.

On a monthly basis, consumer prices increased by 0.3 percent, following a 0.2 percent gain in February and also matching market expectations. Prices rose faster for food (0.5 percent vs 0.4 percent in February) and non-food products (0.2 percent vs 0.1 percent) while services inflation was unchanged at 0.1 percent.

Russia Inflation Rate Picks Up from Record Low to 2.4%

Federal State Statistics Service | Joana Ferreira |
4/6/2018 1:12:05 PM