The annual inflation rate in Russia increased to 5.2 percent in February of 2019 from 5 percent in the previous month, in line with market expectations. It was the highest inflation rate since December of 2016, boosted by prices of food, non-food products and services. In January of 2019, the government raised VAT to 20 percent from 18 percent. On a monthly basis, consumer prices went up 0.4 percent, after a 1 percent rise in January. Inflation Rate in Russia averaged 122.02 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.
Inflation Rate in Russia is expected to be 5.40 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 5.00 in 12 months time. In the long-term, the Russia Inflation Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.