Russian inflation reached 16.9 % in March

BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/15

Russia last month returned to a level of consumer inflation not seen since 2002. Although the 12-month rise in prices soared, monthly inflation started to slow. The March rise was 1.2 % m-o-m, down from 2.2 % m-o-m in February.

The inflationary impacts of the ruble’s sharp devaluation are expected to fade over the coming months and the rise in consumer prices to slow. By year’s end, inflation could be running at around 11–12 %. In 2014, inflation was 11.4 %.

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