The inflation rate in Russia was confirmed at 3.0 percent in December 2019, the lowest since July 2018 and compared to the previous month's 3.5 percent. Food prices increased 2.6 percent (vs 3.7 percent in November), with upward pressure coming from butter (10.0 percent), bread and bakery products (6.3 percent), meat and poultry (0.2 percent), fish and seafood (5.2 percent), and milk and dairy products (6.1 percent). Also, non-food products cost rose 3.0 percent (vs 3.1 percent in November) while services prices advanced 3.8 percent (vs 3.9 percent in November). The core inflation rate dropped to 3.1 percent from 3.5 percent. On a monthly basis, consumer prices rose 0.4 percent, following a 0.3 percent gain in November. Inflation Rate in Russia averaged 118.87 percent from 1991 until 2019, reaching an all time high of 2333.30 percent in December of 1992 and a record low of 2.20 percent in January of 2018. source: Federal State Statistics Service

Inflation Rate in Russia is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Russia to stand at 4.00 in 12 months time. In the long-term, the Russia Inflation Rate is projected to trend around 4.30 percent in 2020, according to our econometric models.

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Russia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.50 2333.30 2.20 1991 - 2019 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-06 01:00 PM Inflation Rate YoY Oct 3.8% 4% 3.8% 3.9%
2019-12-06 01:00 PM Inflation Rate YoY Nov 3.5% 3.8% 3.6% 3.6%
2019-12-31 12:00 PM Inflation Rate YoY Prel Dec 3.0% 3.5% 3.1% 3.1%
2020-01-10 01:00 PM Inflation Rate YoY Final Dec 3.0% 3.5% 3.1% 3.0%
2020-02-06 01:00 PM Inflation Rate YoY Jan 3.0% 2.7%


News Stream
2019-12-31
Russia Inflation Rate Down to 1-1/2-Year Low
Russia's annual inflation fell further to 3.0 percent in December 2019 from 3.5 percent in the previous month and below market expectations of 3.1 percent, a preliminary estimate showed. That was the lowest rate since July 2018. On a monthly basis, consumer prices rose 0.4 percent, in line with consensus and compared to November's 0.3 percent advance.

2019-12-06
Russia Inflation Rate Falls to 1-Year Low of 3.5%
Russia's annual inflation fell further to 3.5 percent in November 2019 from 3.8 percent in the previous month and below market expectations of 3.6 percent. That was the lowest inflation rate since October 2018, mainly due to lower prices of both food and non-food products. On a monthly basis, consumer prices edged up 0.3 percent, following a 0.1 percent gain in October.

2019-11-06
Russia Inflation Rate at Near 1-Year Low
Russia's annual inflation fell further to 3.8 percent in October 2019 from 4.0 percent in the previous month, in line with market expectations. That was the lowest rate since November 2018, as prices rose at a softer pace for goods and services.

2019-10-04
Russia Inflation Rate at 10-Month Low of 4%
The annual inflation rate in Russia decreased to 4 percent in September 2019 from 4.3 percent in the previous month and below market expectations of 4.1 percent. It was the lowest inflation rate since November 2018.

2019-09-05
Russia Inflation Rate Slows to 8-Month Low
The annual inflation rate in Russia decreased to 4.3 percent in August of 2019 from 4.6 percent in the previous month and below market expectations of 4.4 percent. It was the lowest inflation rate since December 2018, amid declines in food prices.

2019-08-06
Russia Inflation Rate Eases to 7-Month Low of 4.6% in July
The annual inflation rate in Russia decreased to 4.6 percent in July of 2019 from 4.7 percent in the previous month and in line with market expectations. It was the lowest inflation rate since December of 2018, mainly due to lower services prices.


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.

Russia Prices Last Previous Highest Lowest Unit
Inflation Rate 3.00 3.50 2333.30 2.20 percent [+]
Inflation Rate Mom 0.40 0.30 100.00 -0.50 percent [+]
Consumer Price Index CPI 592.60 590.20 592.60 0.10 points [+]
Core Consumer Prices 100.10 100.20 103.50 100.10 points [+]
Core Inflation Rate 3.10 3.50 17.50 1.80 percent [+]
GDP Deflator 119.17 119.93 121.34 43.41 points [+]
Producer Prices 662.50 667.80 722.40 0.00 points [+]
Producer Prices Change -6.30 -4.90 33.70 -12.30 percent [+]
Food Inflation 4.00 4.70 26.10 -0.60 percent [+]