Russia: Food Price Inflation Down to 3.5 Percent in March 2017

According to Russia’s Federal Statistics Service (Rosstat), Russia’s headline consumer price index (CPI) was down to 4.3 percent in March 2017 from 5.4 percent in December 2016. Food price inflation was 3.5 percent in March 2017 compared to 4.6 percent in December 2016. Inflation in Russia was below Central Bank’s targeted level in March due to stronger than expected ruble exchange rate, record high agriculture output in 2016 and ongoing decline of real disposable income.

Russia: Food Price Inflation Down to 3.5 Percent in March 2017