On 15 January 2015, the Bank of Russia Board of Directors decided to reduce the key rate by 2 pp., to 15% per annum, due to the shift in the balance of risks of accelerated consumer price growth and an economic cool-down. In January 2015, the Consumer Price Index increased by 3.9% (vs. 0.6% in...

In November 2014, the Consumer Price Index (CPI) amounted to 1.3% (vs. 0.6% in November 2013), which is 0.5 p.p. above its value recorded in October. In response to the mounting panic in the foreign exchange market, from 16 December the Bank of Russia raised its key interest rate to 17% per...

The consumer price index stood at 0.8% in October 2014 (0.6% in October 2013), 0.1 p.p. higher than the value observed in September. As a result, inflation boosted up to 8.3% at an annualized rate. The consumer price index reached 1.0% as of the 24th day of November. The Bank of Russia decided...

In September, the Central Bank of Russia made a decision to cut the key rate by 0.5 p.p. to 10%. The intention of the Central Bank of Russia to stick to a moderately tough monetary policy is justified by the need to consolidate the trend towards sustained reduction of the rate of inflation

The analysis of consumer prices dynamics and the forecast based on the model of exchange rate pass-through effect indicates that in the Q3 2016, one should not expect significant inflation growth. The forecast of price dynamics in consumer segments is quite heterogeneous: the prices of non-food...

The consumer price index stood at 0.6% in October 2013 (against 0.5% in October 2012), having shown a 0.4 p.p. increase as compared to September 2013. Therefore inflation increased more than 6.3% on a year-over-year basis at the end of the 10-month period. In the first 18 days of November 2013...

In September 2013, the Consumer Price Index (CPI) amounted to 0.2% (against 0.6% in September 2012), which is by 0.1 pp. higher than its value recorded in August 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 9 months of 2013, increased above 6.1%. Over...

In August 2013, the Consumer Price Index (CPI) amounted to 0.1% (same as its level in August 2012), which is by 0.7 pp. lower than its value recorded in July 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 8 months of 2013, increased above 6.5%. Over the...

In July 2013, the Consumer Price Index (CPI) amounted to 0.8% (against 1.2% in July 2012), which is by 0.4 p.p. higher than its value recorded in June 2013. Over the period from 1 August through 26 August, the CPI rose by 0.1%. Thus, the inflation rate in per annum terms increased above 5.6%. In...