According to the latest data, annual inflation in Russia has fallen below 7%.
Statistics show that over the past week (from November 18 to 24), consumer prices increased by 0.14%. This indicates an acceleration in the growth rate, as the previous week’s increase was 0.11%.
In total, prices have increased by approximately 5.3% since January. In terms of annual inflation, it was approximately 6.9% in November.
This represents a decrease compared to last year’s figure, recorded as of November 24, when the figure was 7.2%.
However, experts note that this trend indicates an insignificant slowdown in price growth. This is causing great concern among analysts, especially given that the Central Bank of Russia has kept its key rate extremely high for nearly a year, yet we have yet to see a decisive victory against inflation.
Furthermore, we have seen interest rate cuts in recent months. This means that inflation may once again have the potential to rise, experts warn.
Nevertheless, the 6.9% inflation rate is still moderately positive, as it fell within the Central Bank’s forecast for this year: 6.5-7%.
Naturally, general inflation in Russia is also driven by food inflation. There are reports that over the past year, frozen fish has risen in price by approximately 16%, beef by 13%, bread by 11-12%, and pork by 10%.
At the same time, some food products are showing a downward trend. Specifically, cucumbers have become 34% cheaper, cabbage by 28%, potatoes by 24%, eggs by 21%, and onions by 20%.
Experts note that overall inflation in Russia is slowing, although the pace of this slowdown is not as rapid as desired.
Results for 2025 indicate that inflation over the next 12 months may not only meet the Central Bank’s forecast but may even fall below it.
However, experts warn that lower inflation may not translate into lower prices for goods in stores. As for food, its cost is traditionally cyclical and declines when a new harvest arrives on the market.
This suggests that food prices may see additional price increases in the near future, beyond those caused by general inflation in the economy.
Overall, experts expect inflation to increase in 2026 due to many factors, including increases in VAT and utility rates, as well as the introduction of a vehicle recycling fee.
