ロシア：消費者物価指数および金融政策

Headline inflation stood at 3.75% in October 2019, 25 bp down from the September figure and below the 4% target set by the Central Bank of the Russian Federation.

The inflation keeps slowing down since it reached its peak this year at 5.25% in March due to the downward trend in food prices. After a year of soaring food prices to a peak at 6.42% in May 2019, food inflation went down and reached 4.21% in October. 

Faced with sluggish growth, the central bank cut the benchmark interest rate four times this year. The first three rounds it was lowered by 25bp and then by 50bp to reach 6.5% in October from 7.75% in May.

Detailed data and analysis on Russia’s Inflation and Monetary Policy can be found in the CEIC Russia Economy in a Snapshot – Q3 2019.