Russia Inflation Rate Rises More than Expected

Russia’s annual inflation rate rose to 3.4 percent in September of 2018 from 3.1 percent in the previous month, slightly above market expectations of 3.3 percent. It was the highest inflation rate since July of 2017, mainly due to food prices.

Within the goods component, food cost advanced 2.5 percent in September, up from a 1.9 percent rise in August; and prices of non-food products rose by 4 percent, following a 3.8 percent gain in the prior month. Also, services inflation went up to 3.8 percent in September from 3.7 percent in August.

Annual core inflation rate picked up to 2.8 percent in September from 2.6 percent in the previous month.

On a monthly basis, consumer prices went up 0.2 percent, higher than market consensus of 0.1 percent and after showing no growth in August. Prices advanced faster for non-food products (0.4 percent from 0.2 percent in August) and cost fell less for food (-0.1 percent from -0.4 percent). Meanwhile, prices slowed for services (0.2 percent from 0.3 percent). 

Russia Inflation Rate Rises More than Expected

Federal State Statistics Service | Agna Gabriel |
10/5/2018 1:31:20 PM