Inflation & Prices
Russian Inflation in November Meets Central Bank’s Worst-Case Expectations
- Annual price growth accelerated to 7.48% last month, data show
- Bank of Russia has raised key rate sharply to fight inflation
This article is for subscribers only.
Price growth in Russia accelerated in November to meet the central bank’s worst-case expectations, raising the odds that rate-setters will opt to further tighten monetary policy when they meet next week.
Annual inflation reached 7.48% last month, up from 6.69% in October, according to Federal Statistics Service data published late Friday. In monthly terms, inflation came in at 1.1% after reaching 0.83% the previous month. Russia is set to end the fourth straight year with inflation well above the Bank of Russia’s 4% target.