FX.co ★ Russia Inflation Rate Rises to 5-Month High

Russia’s headline inflation rate accelerated to 6.0% in June 2026 from 5.3% in May, the highest level since January and in contrast to most major economies, where consumer price growth has been easing following the initial surge triggered by the war in the Middle East. Motor gasoline inflation reached 19.9% over the period, reflecting Russia’s most acute fuel shortage since the collapse of the Soviet Union. The global supply shock stemming from export disruptions in the Middle East was exacerbated by a series of Ukrainian drone strikes on Russian refineries. At the same time, services inflation remained elevated at 10.6%. By contrast, food inflation was relatively subdued at 3.4%, lower than in other sectors of the economy. On a monthly basis, the Russian CPI rose by 0.9%.