Support The Moscow Times!

Russian Inflation Falls Below 10% for First Time in 14 Months

The annual inflation in Russia has fallen into single digits in February for the first time since December 2014, the Interfax news agency reported Wednesday.

In 2015, inflation in Russia reached 12.9 percent — the highest recorded rate since 2008, Rosstat said.

Based on official statistics data gathered between Jan. 26 and Feb. 1, Interfax reported that the annual inflation rate as of the beginning of February fell below 10% — 9.6-9.7 percent — for the first time since mid-December 2014.

The final data on the growth of prices in January will be published by Rosstat state statistics service on Feb. 5, Interfax reported.

According to the poll conducted by the state-run pollster VTsIOM last month, the growth of prices amid the slowdown of the country's economy has been named by Russians as among the most worrying problems.

The Ministry of Economic Development forecasts that prices in Russia will grow 8.5 percent in 2016. The Central Bank expected that inflation would not exceed 7 percent — with the oil price at $35 per barrel — the RBC news website reported in December.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysiss and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more