Russia: Inflation

* indicates monthly or quarterly data series
 Russia

Inflation: percent change in the Consumer Price Index

 Latest value 6.7
 Year 2021
 Measure percent
 Data availability 1993 - 2021
 Average 61.2
 Min - Max 2.9 - 874.2
 Source The World Bank
For that indicator, we provide data for Russia from 1993 to 2021. The average value for Russia during that period was 61.2 percent with a minimum of 2.9 percent in 2018 and a maximum of 874.2 percent in 1993. The latest value from 2021 is 6.7 percent. For comparison, the world average in 2021 based on 166 countries is 8.6 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Russia - Inflation - Recent values chart

Historical chart
Russia - Inflation - historical chart - 1993-2021




Inflation in Russia and other countries is usually calculated as the percent change in the Consumer Price Index (CPI) from one year to the next. The CPI represents the prices paid by the average urban consumer in each respective country. Inflation can also be calculated with other price indexes such as the Produce Price Index or the so-called GDP deflator.

Most countries try to keep inflation somewhere around 2-3 percent per year. That is too low to cause any problems for the businesses and households. At the same time, it is comfortably away from negative inflation, i.e. from deflation. Of course, this target is often missed.
Definition: Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

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 Related indicators Latest value Reference Measure
 Inflation 6.7 2021 percent
 Exchange rate regimes 7 2021 index points
 USD exchange rate 96.7083 9/2023 Local Currency Units per USD
 Money supply (broad money) 90,597.30 9/2023 billion
 Consumer Price Index (CPI) 788.6000 9/2023 index points
 Inflation, monthly 0.87 9/2023 percent
 Inflation, annual 5.99 9/2023 percent
 Private sector credit 93,756.89 9/2023 billion
 Business credit 59,684.41 9/2023 billion
 Household credit 34,072.47 9/2023 billion
 Mortgage credit 16,905.19 9/2023 billion
 Consumer credit 18,418.91 9/2023 billion
 Deposit interest rate 9.47 9/2023 percent
 Business credit interest rate 12.83 9/2023 percent
 Mortgage credit interest rate 9.70 9/2019 percent
 Policy rate 13.00 9/2023 percent
 Household debt to GDP 22.40 9/2023 percent
 Debt service ratios for private non-financial sector 14.60 Q3/2023 percent
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