Russia Inflation Rate Reaches 2-Year High

The annual inflation rate in Russia quickened for the fourth month to 10.1% in February 2025, from 9.9% in January, as anticipated, and remained well above the central bank's 4% target.

It was the steepest inflation rate since February 2023, driven by prices of food (11.7% vs. 11.1% in January), notably butter (34.8%), frozen fish (22.2%) and fruit and vegetables (16%).

Additional upward pressure came from prices of services (12.7% vs. 13%) and non-food products (6.1% vs 6.1%).

On a monthly basis, consumer prices rose by 0.8%, marking the smallest increase in four months.