Inflation in 2025 to be lowest since 2020
Annual inflation equalled 5.6% in 2025 as compared with 9.5% in 2024.
Non-food prices were rising at the lowest rate of 3% on average. Some of them were down, namely prices for footwear, communication devices, personal computers, electronics and household appliances, TV and radio goods, tools and equipment, and motor vehicles. Contrastingly, prices for services and food products were up by 9.3% and 5.2%, respectively.
In December, seasonally adjusted monthly price growth was 2.6% in annualised terms. Prices for petrol and sugar continued to decline. Increases in prices for eggs and fruit and vegetables were low for December.
Measures of underlying inflation remained within the range of 4–6% in annualised terms.
The Bank of Russia will keep monetary conditions as tight as required to return inflation to 4%.
More details are available in the new issue of the information and analytical commentary Inflation in Russia.