Russia Inflation Rate Climbs to 15-Month High

Russia’s annual inflation rate rose to 3.5 percent in October 2018 from 3.4 percent in the previous month, still below market expectations of 3.6 percent. It was the highest inflation rate since July 2017 boosted by prices of food, non-food products and services.

Within the goods component, food cost advanced 2.7 percent in October, following a 2.5 percent rise in September and prices of non-food products rose 4.1 percent, after a 4 percent gain in the previous month. Also, services inflation went up to 4 percent in October from 3.8 percent in September.

Annual core inflation rate climbed to 3.1 percent in October from 2.8 percent in the previous month. It was the highest rate since July 2017.

On a monthly basis, consumer prices increased 0.4 percent in October, compared with a 0.2 percent gain in September and matching market consensus. An increase in prices of food (0.6 percent vs -0.1 percent in September) and non-food products (0.5 percent vs 0.4 percent) was enough to offset a decline in services costs (-0.1 percent vs 0.2 percent).

Russia Inflation Rate Climbs to 15-Month High

Federal State Statistics Service | Joana Ferreira |
11/6/2018 1:14:44 PM