Russia: Inflation falls to over two-year low in March
Inflation came in at 3.5% in March, down from February’s 11.0%. March’s reading marked the weakest inflation rate since July 2020. The huge drop was largely due to a large base effect, as March 2022 saw inflation spike as a result of Russia’s invasion of Ukraine.
Annual average inflation fell to 12.9% in March (February: 14.1%). Meanwhile, core inflation fell to 3.7% in March, from the previous month’s 12.7%.
Lastly, consumer prices increased 0.37% over the previous month in March, following February’s 0.46% rise.