Russian Inflation Eases to 6.9% in August

Consumer prices in Russia increased 6.9 percent year-on-year in August of 2016, following 7.2 percent growth in the previous month while above market expectations of 6.1 percent. It was the lowest reading since March 2014, as housing and utilities, clothing and footwear, transport and recreation and culture prices rose at a slower pace while food cost accelerated. On a monthly basis, prices were flat.

Prices grew at a slower pace for housing and utilities (+5.6 percent from +6.0 percent in July); clothing and footwear (+9.2 percent from +9.5 percent); recreation and culture (+6.8 percent from +9.9 percent); furnishings and household equipment (+7.3 percent from +7.7 percent); transport (+6.4 percent from +6.7 percent); restaurants and hotels (+5.9 percent from +6.2 percent) and alcoholic beverages and tobacco  (+9.5 percent from +9.6 percent)

Meantime, food and non-alcoholic beverages prices increased at a faster 6.5 percent (+6.4 percent in July).

Annual core inflation rate remained unchanged at 7.4 percent.

On a monthly basis, consumer prices were flat, compared to 0.5 percent growth in the previous month, as drop in food prices (-0.8 percent) was offset by increases for housing and utilities (+0.2 percent); transportation (+0.3 percent); clothing (+0.5 percent); furnishings (+0.2 percent) and restaurants and hotels (+0.3 percent). 

 Russian Inflation Eases to 6.9% in August

Federal State Statistics Service | Yekaterina Guchsina |
9/5/2016 2:16:48 PM