Russia Inflation Rate at Near 3-Year Low of 6.1%

Consumer prices in Russia increased 6.1 percent year-on-year in October of 2016, following 6.4 percent growth in the previous month and below market expectations of 6.2 percent. It was the lowest inflation rate since January 2014, as prices rose at a slower pace for food, housing and utilities, clothing and footwear, transport, furnishings and recreation and culture. On a monthly basis, prices went up 0.4 percent.

Prices rose at a slower pace for food (+5.5 percent from +5.8 percent in September); housing and utilities (+5.3 percent from +5.4 percent); clothing and footwear (+8.1 percent from +8.7 percent); recreation and culture (+6.5 percent from +6.7 percent); furnishings and household equipment (+6 percent from +6.6 percent); transport (+5.7 percent from +6.1 percent); and alcoholic beverages and tobacco  (+8.9 percent from +9.3 percent)

Annual core inflation rate declined to 6.4 percent from 6.7 percent in September.

On a monthly basis, consumer prices rose 0.4 percent, after 0.2 percent growth in the previous month. Main upward pressure came from: food (+0.9 percent); housing and utilities (+0.2 percent); clothing (+1 percent); furnishings (+0.3 percent); restaurants and hotels (+0.4 percent); education (+0.2 percent) and alcoholic beverages and tobacco (+0.5 percent). In contrast, prices fell 0.2 percent for transport and 0.4 percent for recreation and culture.

Federal State Statistics Service | Yekaterina Guchshina |
11/3/2016 1:16:17 PM