The Central Bank of Russia published a regional inflation update showing broad-based disinflation in 2025, with inflation declining year on year in 82 of 85 regions and falling to 5.6% across Russia from 9.5% in 2024. It reiterated that monetary conditions will remain as tight as necessary to ensure a further sustainable slowdown in inflation to 4%. In December, month-on-month price growth slowed in 46 regions and average prices fell in five. Most regions saw slower increases in fruit and vegetable prices than in November, sugar prices continued to decline in 67 regions, non-food prices rose at a moderate pace, and fuel prices fell again. Services inflation eased compared with November, with the most noticeable price decrease in foreign travel.
Central Bank of Russia 2026-01-23
Central Bank of Russia reports inflation fell to 5.6% in 2025 and reiterates tight monetary conditions to return inflation to 4%
The Central Bank of Russia reported broad-based disinflation in 2025, with inflation dropping to 5.6% from 9.5% in 2024 across 82 of 85 regions, and emphasized maintaining tight monetary conditions to achieve a 4% inflation target. December saw slowed month-on-month price growth in 46 regions, with notable declines in sugar and fuel prices, and easing services inflation, particularly in foreign travel.