Inflation Rate in Russia increased to 10.10 percent in February from 9.90 percent in January of 2025. This dataset provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the inflation rate in Russia from 1997 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Russia was at about 13.75 percent compared to the previous year.

Russia's economic uplift

Based on economic power and economic standards, Russia is recognized as one of the biggest economic powers in the world. With a population of around 143 million people and a re-awakened population growth since 2010, Russia has tried to establish itself as one the world’s largest economies and wealthiest nations and succeeded, being the sixth largest economy in the world today. The gross domestic product (GDP) increase in Russia from 2009 to 2014 is also a good indicator of Russia’s economic growth and strength. After the 1998 Russian financial crisis, several reforms were introduced to the Russian economy which allowed it to recover. Not only did the Russian economy experience a great boost but the quality of life in Russia as well as the people’s satisfaction with the direction of the country has also improved.

In comparison to the previous year - with the exception of 2009 -, the Russian real gross domestic product growth rate has increased over the past decade. The trade balance of goods has been experiencing a rapid increase since the beginning of the millennium, with the exceptions of 2007 and 2009 due to the global economic crisis. This allowed Russia to export more goods than it imported. This high trade balance of goods resulted in a low inflation rate in 2012, the lowest recorded inflation rate since 2004.

In December 2024, the inflation rate in Russia stood at around 9.5 percent compared to the same month in the previous year, showing an increase. The rate has been rising since October 2024. The highest rate during the observed period was recorded in April 2022, at 17.8 percent. The term inflation means the devaluation of money caused by a permanent increase in the price level for products (consumer goods, investment goods). The Consumer Price Index (CPI) shows the price development for private expenses and shows the current level of inflation when increasing. Russia's economy, an outlook The Russian economy was expected to grow by 1.6 percent in 2025 despite the Western sanctions over the war in Ukraine that began in February 2022. At the same time, consumer prices were projected to grow by around five percent in 2025 relative to the previous year. In 2024, the inflation rate was estimated at 7.9 percent. Prices in Russia Russia’s economy is highly dependent on and affected by the price of oil. The price of the Urals crude oil stood at approximately 62 U.S. dollars per barrel in December 2024, having demonstrated an increase from the previous month. The highest producer price index (PPI) was recorded in the electricity and gas supply sector, with a price growth rate of over 12 percent in September 2024.

The Consumer Price Index in Russia increased 0.80 percent in February of 2025 over the previous month. This dataset provides - Russia Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core consumer prices in Russia increased 9.55 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Russia Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of January 27, 2025, the year-over-year inflation rate in Russia was measured at 8.15 percent, remaining unchanged from the previous week. The growth in consumer prices at the end of February and in March 2022 was caused by the war in Ukraine and subsequent international sanctions on Russia. In April 2024, the inflation rate in Russia reached 7.8 percent relative to the corresponding period of the previous year.

Inflation Expectations in Russia increased to 14 percent in January from 13.90 percent in December of 2024. This dataset provides - Russia Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data was reported at 29.826 % in Feb 2025. This records a decrease from the previous number of 37.031 % for Jan 2025. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data is updated monthly, averaging 34.332 % from Jun 2012 (Median) to Feb 2025, with 96 observations. The data reached an all-time high of 60.742 % in Feb 2022 and a record low of 20.000 % in Feb 2018. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

Russia Expected Inflation: Households with Savings data was reported at 11.300 % pa in Feb 2025. This records a decrease from the previous number of 12.600 % pa for Jan 2025. Russia Expected Inflation: Households with Savings data is updated monthly, averaging 9.800 % pa from Jul 2017 (Median) to Feb 2025, with 84 observations. The data reached an all-time high of 17.200 % pa in Mar 2022 and a record low of 6.900 % pa in Mar 2020. Russia Expected Inflation: Households with Savings data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE006: Inflation Expectations: Central Bank of Russian Federation. [COVID-19-IMPACT]

In the third quarter of 2024, the Consumer Price Index (CPI) in Russia was around 8.9 percent higher than in the corresponding period of the previous year. The growth rate marked a slight increase compared to the previous quarter. The year-over-year inflation rate across Russia in April 2024 was recorded at 7.8 percent.

Russia inflation rate for 2021 was 6.69%, a 3.31% increase from 2020.

• Russia inflation rate for 2020 was 3.38%, a 1.09% decline from 2019.
• Russia inflation rate for 2019 was 4.47%, a 1.59% increase from 2018.
• Russia inflation rate for 2018 was 2.88%, a 0.81% decline from 2017.

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

During the week ending January 27, 2025, consumer prices in Russia were 1.14 percent higher than at the beginning of the year. The year-to-date inflation rate continuously increased until mid-May 2022 and from mid-September 2022, reflecting the economic impact of sanctions on Russia due to the war in Ukraine.

Russia Inflation Perception: Last 1-2 Months: Can't Respond data was reported at 8.846 % in Jan 2024. This records an increase from the previous number of 8.000 % for Dec 2023. Russia Inflation Perception: Last 1-2 Months: Can't Respond data is updated monthly, averaging 8.000 % from Apr 2017 (Median) to Jan 2024, with 81 observations. The data reached an all-time high of 16.186 % in Jan 2018 and a record low of 3.500 % in May 2017. Russia Inflation Perception: Last 1-2 Months: Can't Respond data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

Over the week ending November 5, 2024, consumer prices in Russia decreased from the week prior by 0.19 percent. During the observed period, the highest weekly inflation rate was recorded over the week from February 26 to March 4, 2022, which was the first full week after Russia's invasion of Ukraine that started on February 24, 2022. Year-to-date, consumer prices grew by over three percent from January 1, 2024. How much was the Russian inflation rate in 2023? The annual increase in the Russian consumer price index (CPI) stood at approximately 5.9 percent in 2023 and was around 7.9 percentage points lower than in 2022, when the figure was significantly high due to the war in Ukraine. Over 2023, the highest monthly inflation rate was recorded in January at roughly 12 percent. Which products have the highest inflation rate in Russia? Financial and insurance services recorded the highest increase in consumer prices in Russia in 2023, at over 13 percent. They were followed by sports, recreation, and culture. Among food products, the highest inflation rate in June 2024 relative to the end of the previous year was recorded for beet root, carrots, potatoes, white cabbage, and onions.

Inflation, consumer prices (annual %) in Russia was reported at 6.6945 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Russia - Inflation, consumer prices (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Graph and download economic data for Consumer Price Index: Total Goods Excluding Services for the Russian Federation (CPGDTT01RUA661N) from 1993 to 2014 about Russia, goods, CPI, inflation, price index, indexes, and price.

Russia Inflation Expectation: Next 1-2 Months: Can't Respond data was reported at 5.840 % in Nov 2024. This records an increase from the previous number of 5.000 % for Oct 2024. Russia Inflation Expectation: Next 1-2 Months: Can't Respond data is updated monthly, averaging 6.000 % from Jun 2012 (Median) to Nov 2024, with 93 observations. The data reached an all-time high of 14.000 % in Jan 2018 and a record low of 3.000 % in Dec 2021. Russia Inflation Expectation: Next 1-2 Months: Can't Respond data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

CPI: Prev Month=100: Kursk Region: Core Inflation data was reported at 101.150 Prev Mth=100 in Dec 2024. This records a decrease from the previous number of 101.170 Prev Mth=100 for Nov 2024. CPI: Prev Month=100: Kursk Region: Core Inflation data is updated monthly, averaging 100.580 Prev Mth=100 from Jan 2003 (Median) to Dec 2024, with 264 observations. The data reached an all-time high of 109.860 Prev Mth=100 in Mar 2022 and a record low of 99.820 Prev Mth=100 in Feb 2023. CPI: Prev Month=100: Kursk Region: Core Inflation data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IB022: Consumer Price Index: Central Federal District: Kursk Region.

Russia Inflation Perception: Last 1-2 Months: Moderate data was reported at 30.266 % in Jan 2024. This records an increase from the previous number of 29.081 % for Dec 2023. Russia Inflation Perception: Last 1-2 Months: Moderate data is updated monthly, averaging 33.107 % from Apr 2017 (Median) to Jan 2024, with 81 observations. The data reached an all-time high of 43.778 % in Nov 2017 and a record low of 21.000 % in Nov 2021. Russia Inflation Perception: Last 1-2 Months: Moderate data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

The price of fresh cucumbers in Russia was over 11 percent higher as of February 3, 2025, compared to end-December 2024. The cost of lamb, vodka, and several vegetables also saw a significant increase.