The inflation rate in Russia was confirmed at 3.0 percent in December 2019, the lowest since July 2018 and compared to the previous month's 3.5 percent. Food prices increased 2.6 percent (vs 3.7 percent in November), with upward pressure coming from butter (10.0 percent), bread and bakery products (6.3 percent), meat and poultry (0.2 percent), fish and seafood (5.2 percent), and milk and dairy products (6.1 percent). Also, non-food products cost rose 3.0 percent (vs 3.1 percent in November) while services prices advanced 3.8 percent (vs 3.9 percent in November). The core inflation rate dropped to 3.1 percent from 3.5 percent. On a monthly basis, consumer prices rose 0.4 percent, following a 0.3 percent gain in November. Inflation Rate in Russia averaged 118.87 percent from 1991 until 2019, reaching an all time high of 2333.30 percent in December of 1992 and a record low of 2.20 percent in January of 2018. source: Federal State Statistics Service
Inflation Rate in Russia is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Russia to stand at 4.00 in 12 months time. In the long-term, the Russia Inflation Rate is projected to trend around 4.30 percent in 2020, according to our econometric models.