FX.co ★ Russia Inflation Rate Eases to 17-Month Low

The annual inflation rate in Russia decreased for the sixth consecutive month, reaching 8% in September 2025, a decrease from the 8% recorded in the prior month and marking the lowest level since April 2024. This trend aligns with the Bank of Russia's projections, which anticipated that inflationary pressures would not sustain the elevated levels observed in the first half of the year. However, the rate of price growth continues to surpass the central bank's 4% target. Specifically, food prices saw a more moderate increase at 9.5% compared to 9.8% in August, while inflation rates for non-food goods remained steady at 3.9%, and service costs held at 11.1%. Concurrently, core inflation eased to 7.7% from 8%. On a monthly basis, consumer prices rose by 0.3%, following a 0.4% decline in August.