Russia Inflation Rate Rises To Nearly 3-Year High

Russian annual consumer inflation accelerated for the fourth straight month to 7.6 percent in May of 2014 from 7.3 percent in the previous month, driven by higher food prices.

Inflationary pressures came from food and non-alcoholic beverages (+9.2 percent), alcoholic beverages and tobacco (+14.8 percent), clothing and footwear (+4.7 percent), housing, water, electricity, gas and other fuels (+9.3 percent), furnishings and household equipment (+4.5 percent), health (+8.3 percent), education (+8.5 percent), transportation (+4.9 percent), recreation and culture (+7.4 percent), hotels, restaurants and cafes (+8.0 percent).

On a month-on-month basis, the inflation was flat at 0.9 percent. The highest monthly inflationary pressure was recorded for food and non-alcoholic beverages (+1.6 percent) and alcoholic beverages and tobacco (+1.5 percent). Among food products, the highest price increase was recorded for meat and poultry (4.4 percent), followed by fruit and vegetable products (+2.4 percent), sugar (+1.5 percent), cereals and legumes (+1.0 percent), and butter (+1.0 percent).

Annual core inflation rate accelerated to 7 percent in May from 6.5 percent in April.

Russia Inflation Rate Rises To Nearly 3-Year High

Isabel Felino |
6/4/2014 2:05:50 PM