Inflation Rate in the Russian Federation, 2023
Monthly inflation rate in Russia was 0.28% in August 2023. That is 0.35 less than it was in July 2023 and 0.80 more than in August 2022. At the same time, 2023 year to date inflation rate is 3.70% and year over year inflation rate is 5.13%.
In 2023 Russia ranks #1 in the world by yearly inflation rate.
Like in many other countries, inflation in Russia is calculated based on the Consumer Price Indexes (CPI) computed since 1991 as USSR was not officially measuring the inflation due to the planned economy.
Consumer Prices in this case are representing the prices that the end consumer has to pay for the product or service together with all taxes and fees.
Current Inflation Rate
Inflation rate in August 2023:
(month over month, MOM)
|Inflation rate year to date, YTD:||3.70%|
|Inflation rate in July 2023, MOM:||0.63%|
|Inflation rate in August 2022, MOM:||-0.52%|
|Inflation rate in August 2022, YTD:||10.39%|
|Inflation rate in 2022:||11.92%|
|Last 12 months inflation rate:
(year over year, YOY)
|Last 60 months inflation rate (5 years):||38.53%|
|Last 120 months inflation rate (10 years):||96.22%|
Month over month inflation rate is calculated for just the subject month itself - from the first to the last day of that month:
|Month to month, %||0.84||0.46||0.37||0.38||0.31||0.37||0.63||0.28||3.70|
Year to year inflation rate is calculated for 12 months: 11 months preceding the subject one and the subject month itself:
|Year over year (12 months), %||11.76||10.97||3.51||2.30||2.50||3.24||4.30||5.13||3.70|
Progressive inflation rate is an incremental year to date inflation that sums rates from the beginning of the calendar year to the end of the subject month:
|Progressive (year to date), %||0.84||1.30||1.68||2.07||2.38||2.76||3.41||3.70||3.70|
There are more resources available about the inflation in Russia:
- Tables of current and historical inflation rates in Russia by months and years
- Monthly charts showing month over month inflation
- Monthly charts showing year over year inflation rates
- Yearly - charts of annual inflation
- Comparison charts that allow custom reports for any given period and to compare inflation rates between countries and years
- Calculators that allow calculating inflation rates, price and money purchasing power changes for custom periods
Hotlinking and Charts Reusing
All charts are regularly updated and can be hotlinked and used within third party web sites and blogs under a set of conditions. Also charts support parameters that help adjust the charts look and feel. For details on parameters and usage conditions please refer to the Charts API page.
All data and calculations are based on the official Consumer Price Indexes published monthly by the Federal State Statistics Service of Russian Federation (Rosstat).
Inflation data in Russia is published in two phases: on the 4th business day of the month, rounded to one digit and more detailed in the middle of the month, rounded to two decimal digits.