Russia Inflation Rate Rises to Near 1-1/2-Year High

Russia’s annual inflation rate rose to 3.8 percent in November 2018 from 3.5 percent in the previous month, still below market expectations of 3.9 percent. It was the highest inflation rate since July 2017 on the back of rising prices of food and non-food products while service inflation eased.

Within the goods component, food cost advanced 3.5 percent in November, following a 2.7 percent rise in October and prices of non-food products rose 4.2 percent, after a 4.1 percent gain in the previous month. Meanwhile, services inflation slowed to 3.8 percent in November from 4 percent in October.

Annual core inflation rate climbed to 3.4 percent in November from 3.1 percent in the previous month. It was the highest rate since June 2017.

On a monthly basis, consumer prices increased 0.5 percent in November, compared with a 0.4 percent gain in October and matching market consensus. There were rises in prices of both food (1 percent vs 0.6 percent in October) and non-food products (0.4 percent vs 0.5 percent) while services costs were unchanged (vs -0.1 percent in October).

Russia Inflation Rate Rises to Near 1-1/2-Year High

Federal State Statistics Service | Joana Ferreira |
12/6/2018 1:13:09 PM