Current price growth slows down in most Russian regions in March
In March, 59 Russian regions recorded less significant price growth than in February. Services prices increased most noticeably. Food prices in most regions were growing rapidly, while non-food prices were rising slowly almost everywhere and even decreased in 18 regions.
Annual inflation was somewhat above the Russian average (10.34%) in 46 regions and below or equal to this level in the rest of the regions. Inflation remains high, since the economy’s capacity to ramp up supply of goods and services is still lagging behind demand.
To reduce inflation in Russia to 4% in 2026, the Bank of Russia intends to maintain high interest rates in the economy during a long period of time.
More details on inflation in each Russian region are available in the information and analytical materials published on the Bank of Russia website. Starting from this month, they will be published in a new format with a focus being placed on monthly, rather than annual, price dynamics. This offers a clearer understanding of the reasons behind the Bank of Russia’s monetary policy decisions.