Russia’s headline annual inflation rate held steady at 5.9% in March 2026, unchanged from February and slightly above the consensus forecast of 5.8%. The sharpest price growth was observed in services, up 10% year-on-year, and in food products, which rose 5%. Within the food category, fruit and vegetables posted the largest increase at 7.4%. Against the backdrop of concerns over oil supplies from the Middle East, gasoline prices climbed 2.3%. Housing costs rose 2.2%, while utilities increased 5.1%, including a 2.1% rise in gas supply prices. On a monthly basis, the consumer price index (CPI) advanced 0.6% in March, following a 0.7% gain in February.