Russia Inflation Rate Slows to New Record Low in November

Russia's consumer price inflation declined to 2.5 percent year-on-year in November 2017 from 2.7 percent in the previous month and below market expectations of 2.6 percent. The figure came in well below the central bank's target of 4 percent, hitting the lowest level since the series began in 1991.

Prices rose at a slower pace for food and non-alcoholic beverages (0.6 percent from 1.2 percent in October); clothing and footwear (3.4 percent from 3.8 percent); furnishings and household equipment (1.5 percent from 1.6 percent); alcoholic beverages and tobacco (4.3 percent from 4.5 percent); and hotels and restaurants (2.4 percent from 2.7 percent). Meanwhile, inflation was unchanged for housing and utilities (at 4.3 percent) and miscellaneous goods and services (at 2.3 percent) while it rose for transport (4.3 percent from 4 percent in October).

Annual core inflation rate also dropped to an all-time low of 2.3 percent in November from 2.5 percent in the previous month.

On a monthly basis, consumer prices rose 0.2 percent, the same pace as in the previous period.

Russia Inflation Rate Slows to New Record Low in November

Federal State Statistics Service | Joana Ferreira |
12/5/2017 3:18:25 PM