Russia Inflation Rate Unchanged at 26-Year Low

Russia's consumer price inflation was unchanged at 2.5 percent year-on-year in December 2017, missing market expectations of 2.6 percent, a preliminary estimate showed. The figure stood at its lowest level since the series began in 1991, well below the central bank's target of 4 percent.

Record-low inflation continues to provide the central bank with room to cut further its key lending rate from the current level of 7.75 percent.

Within the goods component, food inflation was unchanged at 1.1 percent; while prices of non-food products rose by 2.8 percent, faster than a 2.7 percent gain in November. Also, cost of services went up by 4.4 percent after a 4.3 percent increase in the previous month.

On a monthly basis, consumer prices increased by 0.4 percent, following a 0.2 percent gain in November and also missing expectations of 0.5 percent. Prices rose faster for food (0.6 percent from 0.2 percent in November) and services (0.3 percent from 0.1 percent) while non-food inflation was unchanged at 0.3 percent.

Russia Inflation Rate Unchanged at 26-Year Low

Federal State Statistics Service | Joana Ferreira |
12/29/2017 12:05:08 PM