The Central Bank of Russia, in a new issue of its Inflation in Russia analytical commentary, said headline inflation was pushed up mainly by sharp price increases in products with volatile price dynamics and administered pricing, notably petroleum products and fruit and vegetables. Measures of underlying inflation also increased, but the rise was markedly more moderate than the acceleration in headline inflation. Outside petroleum products, non-food price growth slowed and helped contain inflation. Prices continued to decline for a range of imported goods, including used cars, televisions, radios and electrical goods, household appliances, communication devices, tools and equipment, while imported new cars, personal computers, footwear, apparel and underwear also became cheaper. The Bank of Russia reiterated that it will pursue monetary policy aimed at achieving sustainably low inflation.
Central Bank of Russia2026-07-15
Central Bank of Russia says volatile and administered-price items drove headline inflation higher while underlying inflation rose more moderately
The Central Bank of Russia said higher prices for volatile and administered-price items, especially petroleum products and fruit and vegetables, drove headline inflation higher, while underlying inflation rose more moderately. Non-food price growth excluding petroleum products slowed, and prices for several imported consumer and durable goods continued to fall. The bank reiterated that its monetary policy will aim to achieve sustainably low inflation.