Russia Inflation Rate Edges Up in March

Russian consumer prices rose 16.9 percent year-on-year in March of 2015, following a 16.7 percent increase in February. Yet, monthly inflation slowed for the second straight month to its lowest since October last year.

Year-on-year, cost of food and non-alcoholic beverages recorded the highest increase (25.9 percent from 26.1 percent in February). Cereals and legumes increased 52.9 percent; sugar price went up 50.5 percent; fruit and vegetables advanced 38 percent and cost of fish and sea products increased 33 percent.

Additional upward pressures came from transport (12.7 percent), housing and utilities (10 percent), recreation and culture (20.2 percent) and alcoholic beverages and tobacco (14.7 percent).

The inflation rate has been on an upward trend since the beginning of 2014 as the ruble depreciation lead to a rise in import prices. However, the pace of the increase has slowed in the last two months. On a monthly basis, consumer prices rose 1.2 percent, following a 2.2 percent increase in February. 

 Russia Inflation Rate Edges Up in March

Joana Taborda |
4/6/2015 2:49:14 PM