The annual inflation rate in Russia stood at 9.1% in August 2024, the steepest since February 2023, unchanged from July, but slightly above forecasts of 9%. Prices continued to quicken for services (11.7% vs 11.4% in July) and remained elevated for food products (9.7%, the same as in July). Meanwhile, prices slowed for non-food products (6.1% vs 6.7%). On a monthly basis, consumer prices rose by 0.2% in August, decelerating from a 1.1% increase in the prior month and matching market estimates. source: Federal State Statistics Service

Inflation Rate in Russia remained unchanged at 9.10 percent in August. Inflation Rate in Russia averaged 102.63 percent from 1991 until 2024, 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 September of 2024.

Inflation Rate in Russia remained unchanged at 9.10 percent in August. Inflation Rate in Russia is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Inflation Rate is projected to trend around 4.00 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-08-09 04:00 PM
Inflation Rate YoY
Jul 9.1% 8.6% 9.1% 8.9%
2024-09-11 04:00 PM
Inflation Rate YoY
Aug 9.1% 9.1% 9% 9.1%
2024-10-11 04:00 PM
Inflation Rate YoY
Sep 9.1% 8.0%


Related Last Previous Unit Reference
Consumer Price Index CPI 261.60 258.80 points Jul 2024
Core Consumer Prices 100.40 100.60 points Jul 2024
Core Inflation Rate 8.73 8.64 percent Jun 2024
Food Inflation 9.70 9.70 percent Aug 2024
GDP Deflator 125.06 120.23 points Sep 2023
Inflation Rate YoY 9.10 9.10 percent Aug 2024
Inflation Rate MoM 0.20 1.10 percent Aug 2024
PPI MoM 1.10 -1.50 percent Jul 2024
Producer Prices 314.00 308.40 points May 2024
PPI YoY 13.70 14.00 percent Jul 2024

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
9.10 9.10 2333.30 2.18 1991 - 2024 percent Monthly


News Stream
Russia Inflation Rate Steady at 9.1%, Tops Forecasts
The annual inflation rate in Russia stood at 9.1% in August 2024, the steepest since February 2023, unchanged from July, but slightly above forecasts of 9%. Prices continued to quicken for services (11.7% vs 11.4% in July) and remained elevated for food products (9.7%, the same as in July). Meanwhile, prices slowed for non-food products (6.1% vs 6.7%). On a monthly basis, consumer prices rose by 0.2% in August, decelerating from a 1.1% increase in the prior month and matching market estimates.
2024-09-11
Russian Inflation Rises to 17-Month High
The annual inflation rate in Russia rose to 9.1% in July of 2024 from 8.6% in the earlier month, the highest since February 2023, when base effects from Western sanctions softened the soaring levels of price growth in the Russian economy. The increase was aligned with the Bank of Russia’s warning that a combination of a widespread capacity crisis and some traction for demand from Russian consumers has lifted inflation past earlier expectations, warranting the central bank’s latest rate hike. Inflation rose sharply for services (11.4% vs 8.8% in June), offsetting a slight pullback in inflation of goods (8.4% vs 8.5%0. From the previous month, the Russian CPI rose by 1.1%.
2024-08-09
Russian Inflation Rises to 16-Month High
The annual inflation rate in Russia rose to 8.6% in June of 2024 from 8.3% in the earlier year, the highest since February 2023, when base effects from Western sanctions softened the soaring levels of price growth in the Russian economy. The reading was aligned with the Bank of Russia’s signals that a combination of a widespread capacity crisis and some traction for Russian consumers is lifting inflation past the central bank’s earlier expectations. Inflation rose for services (8.8% vs 8.5% in May) and goods (8.5% vs 8.2%), with the latter being lifted by inflation for food (9.8%). From the previous month, the Russian CPI rose by 0.6%.
2024-07-10