RSS   Newsletter   Contact   Advertise with us
Post Online Media

Russia: Inflation stays moderate in October

Share on Twitter Share on LinkedIn
Staff Writer | Thursday November 8, 2018 6:08AM ET
Russia
Russia   Inflation inched up to 3.5% in October

In October, consumer prices rose 0.4% from the previous month, above the 0.2% growth recorded in September.


Please disable your ad blocker for POST to be able to enjoy our free content.
According to Rosstat, higher prices for food as well as clothing and footwear drove the increase.

Inflation inched up to 3.5% in October from September’s 3.4%. October’s reading undershot market expectations of a rise to 3.6% and inflation remained below the Central Bank’s target rate of 4.0%. Food inflation was softer than expected, while gasoline prices continued to post sharp gains. Annual average inflation, however, was unchanged at September’s 2.6%.

Taking stock after the data release, Dmitry Dolgin, Chief Economist at ING stated:

“Despite the lower than expected inflation number, the near-term inflationary trend, although upward-looking, is likely to fit into the central bank guidelines. Assuming no external shocks, we reiterate our call for a flat key rate of 7.5% in the medium term”

FocusEconomics panelists see inflation ending 2019 at 4.2%, which is unchanged from last month’s forecast. For 2020, participants expect inflation to end the year at 3.8%.

 

What to read next
POST Online Media Contact

 More inside POST