Inflation in Russia since the beginning of the year 12 times ahead of the European

Consumer prices in Russia rose in may 2020 by 0.3% from the previous month, and YTD — by 2.4% (to December 2019).

At the same time in EU countries in may was recorded zero inflation, and for the first 5 months of this year — 0.2% (12 times weaker than in Russia). Such data results the Federal service of state statistics.

Rosstat indicates that in may among the considered countries the greatest gain of consumer prices was observed in Turkey and Malta, compared to the previous month, it was, respectively, 1.4% and 1.2%, for the period from the beginning of year — 4,6% and 4,4%.

In many States, the growth of prices slowed and in some countries tended to reduce the average level of consumer prices. So, for the third straight month of declining prices in Belgium, Bulgaria, Denmark, China, Luxembourg, the Republic of Korea, Finland, and Estonia.

Recall also that, according to Rosstat, consumer prices in Russia from 9 to 15 June 2020 increased by 0.1% compared to the previous week, when it was recorded zero inflation, and since the beginning of the year it reached to 2.5%.

Over the past year, consumer prices rose by 3% (December to December 2018). Thus, 3-percent inflation rate in 2019 was the second lowest value of this indicator for all history of modern Russia. The absolute minimum was recorded at the end of 2017 and 2.5% in 2018, prices increased by 4.3%.

the Ministry of economic development, according to the updated macroeconomic forecast expects annual inflation to end this year at 3.5%. For its part, the Bank of Russia assumes that inflation for the year will amount to 3.8-4.8% and will be close to 4% thereafter.

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