Russland Verbraucherpreise

The annual inflation rate in Russia rose sharply to 9.5% in December of 2024 from 8.9% in the previous month, the highest since base effects from Russia’s invasion of Ukraine kicked in in February 2023. The result was aligned with the Bank of Russia’s warning that inflation would rise sharply this year due to a weak ruble, a labor force crisis forced by the military mobilization, and soaring levels of deficit spending that drove OFZ yields to surge. Inflation was elevated for food products (11.1%) amid higher prices of vegetables (22.1%), and services (11.5%). In turn, inflation was lower for non-food products (6.1%). In the meantime, low refining capacity in the country continued to lift prices for motor gasoline (11.1%).