FX.co ★ Inflation in Russia Inches Up to 7.8% in April 2024, Continuing Upward Trend

MOSCOW, May 17, 2024 — The Consumer Price Index (CPI) in Russia nudged higher to 7.8% in April 2024, compared to 7.7% in March 2024, according to the most recent update released today. This slight increase reflects a persistent inflationary pressure in the Russian economy.

The year-over-year comparison indicates that the current 7.8% CPI in April 2024 echoes a continual escalation from the previous month’s 7.7% reading in March 2024. This progression underscores that inflationary tendencies observed earlier this year are not abating.

Economic analysts are closely monitoring this incremental rise in the CPI as it suggests sustained inflation, which could have wider implications for Russia's economic policies and consumer spending patterns in the months ahead. The latest data being updated in mid-May provides a crucial snapshot for policy makers and market participants alike.