Annual inflation continues to decelerate
Over the past 12 months, prices in Russia went up by 8.0%, which is less than in August (+8.1%).
The seasonally adjusted annualised rate of monthly price growth was 6.7% vs 4.0% in August. This acceleration was largely due to one-off factors. For example, fruit and vegetable prices were decreasing less notably than the seasonal norm, following their substantial decline over the summer period.
Measures of underlying inflation, adjusted for one-off factors, rose more moderately or stayed close to the level observed in the previous month.
The Bank of Russia’s monetary policy is aimed at bringing inflation back to 4.0% in 2026 and maintaining it close to this level further on.
More details are available in the new issue of the information and analytical commentary Inflation in Russia.