Russia Inflation Softens for 4th Month

2025-08-13 16:13 By Andre Joaquim 1 min. read

The annual inflation rate in Russia eased for a fourth straight month to 8.8% in July of 2025, the softest since October of last year, from 9.4% in June.

The development was in line with the Bank of Russia's forecast that inflationary pressures were unlikely to remain at the elevated level from the first half of the year, but price growth still held well above the central bank's 4% target.

Price growth remained the highest for services (11.9%), seen as the stickiest portion of the Russian consumer basket.

In turn, inflation was also elevated for food (10.8%), while being softer for non-food goods (4.1%).

Core inflation was at 8.5%).

From the previous month, consumer prices were 0.6% higher.



News Stream
Russia Inflation Rate at Near 3-Year Low
Russia's headline annual inflation rate fell for the second month to 5.3% in May 2026, down from 5.6% in April and below market estimates of 5.4%. This was the lowest reading since August 2023, but it remains well above the CBR’s target of 4%. Food price growth slowed to 2.9%, compared to 4% in April, as fruit and vegetable prices continued to decline (-10.4% vs -6.6%). Meanwhile, prices advanced faster for services (10.1% vs 9.9%) and non-food products (4.2% vs 3.9%). The core rate edged down to 4.9% in May from 5% in the previous month. On a monthly basis, the CPI rose by 0.2%, after a 0.1% increase in the prior month, in line with forecasts.
2026-06-10
Russia Inflation Rate Lower than Anticipated
Russia's headline annual inflation rate eased to a four-month low of 5.6% in April 2026 from 5.9% previously and below the expected 5.8%. Still, inflation remains well above the CBR’s target of 4%. Price growth moderated for food products (4% vs 5% in March), helped by a steeper decline in the prices of fruits and vegetables (-6.6% vs -2.3%). Meanwhile, services inflation remained elevated (9.9% vs 10%) and prices for non-food products picked up (3.9% vs 3.5%), mainly on account of automobile gasoline (12.3%); medicines (9.1%) and tobacco (7.5%). On a monthly basis, the CPI edged up by 0.1% in April, following a 0.6% rise in March, slightly below market forecasts of a 0.3% increase.
2026-05-15
Russia Inflation Holds at 5.9% in March
Russia's headline annual inflation rate remained unchanged at 5.9% in March 2026 compared to February, slightly above forecasts of 5.8%. The strongest price increases were recorded in services at 10% and food products at 5%. Within food, fruit and vegetable products led gains at 7.4%. Amid Middle East oil supply concerns, gasoline prices rose 2.3%. Housing prices increased 2.2% and utilities 5.1%, with gas supply up 2.1%. On a monthly basis, the Russian CPI rose 0.6% following a 0.7% increase in February.
2026-04-10