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Russian Federation Inflation Rate
Last Release
Dec 31, 2024
Actual
9.5
Units In
%
Previous
8.9
Frequency
Monthly
Next Release
Feb 14, 2025
Time to Release
28 Days 18 Hours
Highest | Lowest | Average | Date Range | Source |
2,333.3 Dec 1992 | 2.18 Feb 2018 | 101.68 % | 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 rose sharply to 9.5% in December of 2024 from 8.9% in the previous month, the highest since base effects from Russia’s invasion of Ukraine kicked in in February 2023. The result was aligned with the Bank of Russia’s warning that inflation would rise sharply this year due to a weak ruble, a labor force crisis forced by the military mobilization, and soaring levels of deficit spending that drove OFZ yields to surge. Inflation was elevated for food products (11.1%) amid higher prices of vegetables (22.1%), and services (11.5%). In turn, inflation was lower for non-food products (6.1%). In the meantime, low refining capacity in the country continued to lift prices for motor gasoline (11.1%).
Russian Federation Inflation Rate History
Last 12 readings