Russia's Annual Inflation Rate Slowed For The Seventh Consecutive Month.
London, Friday, 09 December 2022
Russia's annual inflation rate slowed for the seventh consecutive month in November 2022, dropping to 12 percent from 12.6 percent in October.
This is the lowest level since the country's invasion on Ukraine in February, which prompted severe sanctions from Western nations.
Both food and non-food prices decreased in November (11.1 percent vs. 12.1 percent in October) (13.4 percent vs 14.1 percent).
Additionally, core consumer prices increased more slowly (15.1 percent vs 16.2 percent).
The CPI increased 0.4 percent on a monthly basis, up from the prior month's 0.2 percent increase and the largest gain since April, supporting the CBR's decision to end its rate-cutting cycle.
Report by: The Decision Maker - Finance editors)