Russia Inflation Rate Steady at 7.3% in April

Consumer prices in Russia increased 7.3 percent year-on-year in April of 2016, the same pace as in the preceding month, staying at its lowest level since April of 2014 and below market expectations of 7.4 percent. Food and transport prices growth accelerated while housing and utilities cost slowed down. On a monthly basis, prices edged up by 0.4 percent.

Cost of food and non-alcoholic beverages increased by 4.9 percent year-on-year in Apri (+4.7 percent in March) and prices of transport rose 6.1 percent (+5.7 percent). Meantime, housing and utilities rose at a slower 8.4 percent (+8.7 percent) and prices of clothing and footwear grew 10.0 percent (+10.3 percent). Additional upward pressure came from: recreation and culture (+13 percent from +11.6 percent); alcoholic beverages and tobacco (+10.3 percent from +10.7  percent); and furnishings and household equipment (+8.0 percent from +8.5 percent).

Meanwhile, annual core inflation rate went down to 7.6 percent from 8.0 percent in the previous month.

On a monthly basis, inflation rate slowed to 0.4 percent, from 0.5 percent in the previous month, led by higher prices of food (+0.4 percent), transportation (+0.7 percent), housing and utilities (+0.1 percent), clothing (+0.7 percent) and furnishings (+0.5 percent).

Russia Inflation Rate Steady at 7.3% in April

Federal State Statistics Service | Yekaterina Guchshina |
6/6/2016 2:11:49 PM