Russia Retail Sales Rise More than Expected

Retail sales in Russia jumped by 6.2% year-on-year in March 2026, the strongest pace in five months, following a revised 2.0% gain in February. The surge was driven by non-food goods, which jumped 9.1% from 3.4% previously. Spending on food products also increased at a faster 3.1% compared to 0.6% in the month before. On a monthly basis, retail sales soared by 14.9%, after a revised 2% decline in the previous month. In the first quarter, retail sales grew 3.6% compared to 2.8% in the same period a year ago.

Retail sales in Russia went up by 0.7% year-on-year in January 2026, slowing from a 3.9% increase in December and missing analysts' forecasts of a 1.7% rise. This marked the smallest increase in retail sales activity since a decline was observed in March 2023, reflecting weaker household spending on food products, including beverages, and tobacco products (0.8% vs 2.2% in December) and non-food products (0.7% vs 5.7%). On a monthly basis, retail trade plunged 22.2%, after a 17.1% jump in the preceding month. Retail sales growth slowed considerably in 2025, reaching 2.6% compared with 7.7% in the previous year.

Russia’s retail trade growth eased to 3.3% year over year in November 2025, down from 4.8% in October, though it remained well above market expectations of a 1.8% rise. Growth in trade organizations, which increased by 4%, partially offset a sharp 14.2% decline in sales at retail markets and fairs. On a month-to-month basis, retail sales fell by 3.1% in November, reversing a 2.7% gain recorded in October. Overall, retail trade expanded by 2.5% in the first eleven months of the year compared with the same period in 2024.