The annual inflation rate in Russia fell to 11 percent in February of 2023 from 11.8 percent in the previous month, the lowest since the start of Russia’s invasion of Ukraine and under market expectations of 11.2 percent. While remaining high, the result also challenged the Central Bank of Russia’s worries that the labor force crisis in the country caused by the Kremlin’s military mobilization would support inflationary pressure. Prices fell for food products (9.3 percent vs 10.2 percent in January), non-food products (11.2 percent vs 12.2 percent), and services (13 percent vs 13.3 percent). On a monthly basis, the Russian CPI rose by 0.5 percent. source: Federal State Statistics Service

Inflation Rate in Russia averaged 107.25 percent from 1991 until 2023, 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 March of 2023.

Inflation Rate in Russia is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Russia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-10 04:00 PM Jan 11.8% 11.9% 11.5% 11.7%
2023-03-10 04:00 PM Feb 11% 11.8% 11.2% 11.3%
2023-04-12 04:00 PM Mar 11% 4.2%


Related Last Previous Unit Reference
Inflation Rate 11.00 11.80 percent Feb 2023
Inflation Rate MoM 0.50 0.80 percent Feb 2023
Consumer Price Index CPI 235.00 233.80 points Feb 2023
Core Inflation Rate 12.69 13.72 percent Feb 2023
Core Consumer Prices 100.10 100.30 points Feb 2023
GDP Deflator 159.73 161.38 points Sep 2022
Producer Prices 247.91 245.70 points Feb 2023
Producer Prices Change -7.50 -4.60 percent Feb 2023
Food Inflation 9.33 10.16 percent Feb 2023

Russia Inflation Rate
In Russia, the most important categories in the Consumer Price Index are: Food & Non-alcoholic Beverages (30% of the total weight) and Transport (14%). Clothing & Footwear accounts for 11%, Housing, Water, Electricity, Gas, & Other Fuels for 11%, Recreation & Culture for 6%, Alcoholic Beverages & Tobacco for 6% and Household Appliances for 6%. Health, Communication, Education, Restaurants & Hotels and Miscellaneous Goods & Services account for 16% of the total weight.
Actual Previous Highest Lowest Dates Unit Frequency
11.00 11.80 2333.30 2.18 1991 - 2023 percent Monthly

News Stream
Russian Inflation Slows More than Expected
The annual inflation rate in Russia fell to 11 percent in February of 2023 from 11.8 percent in the previous month, the lowest since the start of Russia’s invasion of Ukraine and under market expectations of 11.2 percent. While remaining high, the result also challenged the Central Bank of Russia’s worries that the labor force crisis in the country caused by the Kremlin’s military mobilization would support inflationary pressure. Prices fell for food products (9.3 percent vs 10.2 percent in January), non-food products (11.2 percent vs 12.2 percent), and services (13 percent vs 13.3 percent). On a monthly basis, the Russian CPI rose by 0.5 percent.
2023-03-10
Russia Inflation Rate Eases Less than Expected
The annual inflation rate in Russia edged down to 11.8 percent in January of 2023 from 11.9 percent in December, missing market expectations of 11.5 percent. Still, it is the ninth consecutive month of a slowdown in inflation to its lowest since February last year. Cost eased for food products (10.2 percent to 10.3 percent in December) and non-food products (12.2 percent vs 12.7 percent) while services inflation accelerated (13.5 percent vs 13.2 percent). On a monthly basis, consumer prices went up 0.8 percent, the same as in December.
2023-02-10
Russian Inflation Slows More than Expected
The annual inflation rate in Russia fell to 11.9 percent in December of 2022 from 12 percent in the previous month, slowing for the eighth consecutive month to its lowest since the country’s invasion of Ukraine in February triggered sweeping sanctions that isolated Russia’s economy. Prices decelerated for food products (11.1 percent to 10.3 percent in November) and non-food products (12.7 percent vs 13.4 percent), offsetting higher inflation for services (13.2 percent vs 11.2 percent). In the meantime, core inflation eased to 14.3 percent from 15.1 percent. On a monthly basis, the CPI rose by 0.8 percent, the highest monthly increase since April, backing the CBR’s signal to halt its rate-cutting cycle as the country’s labor force shortage pressures capacity.
2023-01-13