Russia Inflation Rate Hits 7-Month High


Russia's annual inflation rate rose to 2.5 percent in July 2018 from 2.3 percent in the previous month, slightly below market expectations of 2.6 percent. It was the highest rate since last December mainly due to a rebound in food prices.

Within the goods component, food cost surged 0.5 percent in July, recovering from a 0.2 percent drop in June; and prices of non-food products rose by 3.8 percent, faster than a 3.7 percent gain in the previous month. Meanwhile, services inflation eased to 3.8 percent in July from 4.1 percent in June.

Annual core inflation rate picked up to 2.4 percent in July from 2.3 percent in the previous period. It was the highest rate since October last year.

On a monthly basis, consumer prices increased by 0.3 percent in July, following a 0.5 percent advance in June and missing market expectations of 0.5 percent. Non-food prices increased at a softer pace (0.1 percent vs 0.4 percent) and food cost dopped (-0.3 percent vs 0.4 percent), while services inflation picked up (1.3 percent vs 0.7 percent).

Russia Inflation Rate Hits 7-Month High


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/6/2018 1:14:00 PM