Russian Federation Inflation Rate

Last Release

Oct 31, 2024

Actual

8.5

Units In

8.6

Frequency

Monthly

Next Release

Dec 11, 2024

Time to Release

26 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
2,333.3 Dec 1992	2.18 Feb 2018	102.15 %	1991-2024	Federal State Statistics Service

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.

Latest Updates

The annual inflation rate in Russia fell for the second month to 8.5% in October 2024, the lowest since May, down slightly from 8.6% in September. Analysts had expected it to remain steady at 8.6%. Still, inflation stands well above the CBR’s target of 4%. Price growth slowed marginally for food (9% vs 9.2% in September), of which fruit and vegetables (13.5% vs 14%) and non-food products (6.5% vs 6.6%), while service prices accelerated (9.7% vs 9.5%). On a monthly basis, consumer prices rose by 0.8% in October, up from 0.5% in the prior month but slightly below market estimates of a 0.9% increase.