The Central Bank of Russia’s latest Inflation in Russia commentary reports that current price growth slowed mainly because petrol inflation eased markedly and diesel prices declined. Measures of underlying inflation edged down from July but remained above their averages for the second quarter of 2026, reflecting fuel market developments. Ruble depreciation accelerated import price growth for non-food goods. Service price growth slowed, largely because of one-off declines in communication services and domestic tourism prices, while inflation in healthcare, personal and transport services also eased slightly.
2026-09-16Central Bank of Russia
Central Bank of Russia reports slower price growth as fuel pressures ease
The Central Bank of Russia reported slower current price growth as petrol inflation eased and diesel prices fell. Underlying inflation declined from July but remained above second-quarter averages, while ruble depreciation increased import price pressures for non-food goods.