Russia's consumer price inflation came in at 8.39 percent year-on-year in December 2021, little changed from the previous month's rate of 8.40 percent, which was the highest since January 2016. Inflation has risen sharply in 2021 and is now running at a level that is more than twice the central bank's target of 4 percent, on the back of a rapid economic recovery from the initial phase of the coronavirus, reports of labor shortages across many industries and the ongoing supply issues. Upward pressure came from food (10.62 percent vs 10.81 percent in November), non-food products (8.58 percent vs 8.32 percent), and services (4.98 percent vs 5.15 percent). Policymakers have warned about the threat of an inflationary spiral as consumers bring forward purchases as they fear future price rises, and said food prices should increase further in 2022 due to a weaker-than-expected agricultural season in Russia source: Federal State Statistics Service

Inflation Rate in Russia averaged 110.88 percent from 1991 until 2021, reaching an all time high of 2333.30 percent in December of 1992 and a record low of 2.18 percent in February of 2018. This page provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

Inflation Rate in Russia is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Inflation Rate is projected to trend around 4.80 percent in 2023 and 4.30 percent in 2024, according to our econometric models.

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Russia Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-12-29 04:00 PM Inflation Rate YoY Prel Dec 8.39% 8.4% 8.1%
2022-01-12 04:00 PM Inflation Rate YoY Final Dec 8.4% 8.4% 8.2% 8.39%
2022-02-04 04:00 PM Inflation Rate YoY Jan 8.4%


Related Last Previous Unit Reference
Inflation Rate 8.40 8.40 percent Dec/21
Inflation Rate Mom 0.82 0.96 percent Dec/21
Consumer Price Index CPI 673.60 668.10 points Dec/21
Core Consumer Prices 100.60 101.10 points Dec/21
Core Inflation Rate 8.89 8.71 percent Dec/21
GDP Deflator 141.81 138.51 points Sep/21
Producer Prices 254.30 247.60 points Nov/21
Producer Prices Change 29.20 27.50 percent Nov/21
Food Inflation 10.62 10.81 percent Dec/21

News Stream
Russia Inflation Rate at Near 6-Year High
Russia's consumer price inflation came in at 8.39 percent year-on-year in December 2021, little changed from the previous month's rate of 8.40 percent, which was the highest since January 2016. Inflation has risen sharply in 2021 and is now running at a level that is more than twice the central bank's target of 4 percent, on the back of a rapid economic recovery from the initial phase of the coronavirus, reports of labor shortages across many industries and the ongoing supply issues. Upward pressure came from food (10.62 percent vs 10.81 percent in November), non-food products (8.58 percent vs 8.32 percent), and services (4.98 percent vs 5.15 percent). Policymakers have warned about the threat of an inflationary spiral as consumers bring forward purchases as they fear future price rises, and said food prices should increase further in 2022 due to a weaker-than-expected agricultural season in Russia
2022-01-12
Russia Inflation Rate Nears 6-Year High
Russia's consumer price inflation came in at 8.39 percent year-on-year in December 2021, little-changed from the previous month's rate of 8.40 percent, which was the highest since January 2016, a preliminary estimate showed. Inflation has risen sharply this year and is now running at a level that is more than twice the central bank's target of 4 percent, on the back of a rapid economic recovery from the initial phase of the coronavirus, reports of labor shortages across many industries and the ongoing supply issues. Upward pressure came from food (10.62 percent vs 10.81 percent in November), non-food products (8.58 percent vs 8.32 percent), and services (4.98 percent vs 5.15 percent). Policymakers have warned about the threat of an inflationary spiral as consumers bring forward purchases as they fear future price rises, and said food prices should increase further in 2022 due to a weaker-than-expected agricultural season in Russia.
2021-12-29
Russia Inflation Rate Tops Forecasts
Russia’s annual inflation rate increased to 8.4 percent in November of 2021, from 8.1 percent in October, above market expectations of 8.1 percent. It was the highest inflation rate since January of 2016, as prices advanced faster for non-food products (8.32 percent vs 8.17 percent in October), and services (5.15 percent vs 4.36 percent). Meanwhile, the prices for food products advanced at a slightly softer pace (10.81 percent vs 10.89 percent). On a monthly basis, consumer prices advanced 0.96 percent, above market forecasts of a 0.7 percent rise, and following a 1.11 percent increase in the previous month.
2021-12-08

Russia Inflation Rate
In Russia, the most important categories in the consumer price index are food and non-alcoholic beverages (30 percent of the total weight) and transport (14 percent). The index also includes: clothing and footwear (11 percent); housing, water, electricity, gas and other fuels (11 percent); recreation and cultural activities (6 percent), alcoholic beverages and tobacco products (6 percent) and household appliances (6 percent). Health, communication, education, hotels, restaurants and other goods and services account for the remaining 16 percent of total weight.