Russian Federation Inflation Rate

Last Release

Sep 30, 2024

Actual

8.6

Units In

9.1

Frequency

Monthly

Next Release

Nov 13, 2024

Time to Release

1 Months 0 Days 15 Hours

Highest	Lowest	Average	Date Range	Source
2,333.3 Dec 1992	2.18 Feb 2018	102.39 %	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 eased to 8.6% in September of 2024 from the eighteen-month high of 9.1% in the previous month, the first slowdown since December 2023, but slightly ahead of market expectations of 8.5%. The rate remained well above the CBR’s target of 4%, backing policymakers’ hawkish guidances from recent meetings. Price growth remained elevated for services (11.6%) and food goods (9.1%), while remaining slightly softer for non-food goods (5.6%). Meanwhile, the core inflation rate stood at 8.3%. From the previous month, Russian consumer prices advanced by 0.5%.