Russia Inflation Rate Lowest in Nearly 5 Years


Russia's consumer prices increased by 3.9 percent year-on-year in July 2017, easing from a 4.4 percent rise in the previous month and missing market expectations of 4.3 percent. The inflation rate fell below the central bank's 4 percent target for the first time since the bank switched to inflation targeting policy in late 2014, to hit the lowest level since May 2012. Prices increased at a slower pace for food and non-food products.

Prices rose at a slower pace for food and non-alcoholic beverages (3.8 percent from 4.9 percent in June); transport (4.3 percent from 4.6 percent); housing and utilities (4.4 percent from 4.9 percent); clothing and footwear (4.9 percent from 5.1 percent); furnishings and household equipment (2 percent from 2.2 percent); alcoholic beverages and tobacco (5.7 percent from 6.2 percent); hotels and restaurants (3.1 percent from 3.3 percent) and miscellaneous goods and services (3.2 percent from 3.5 percent). 

Annual core inflation rate declined to 3.3 percent from 3.5 percent in the previous month.

Month-on-month inflation slowed to 0.1 percent from 0.6 percent in June.

Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/4/2017 2:48:39 PM