Russia's inflation hits 8% annual rate in Q3 2026
Manufacturer prices for beverages increased by 0.2% in August and July, decreased by 0.3% in June, increased by 0.8% in May, increased by 0.1% in April, increased by 0.5% in March, and increased by 0.6% in February. In January 2026, compared to December 2025, prices rose by 2.4%.
Consensus
- Inflation in Russia increased to 8% year-on-year in Q3 2026.
- The Central Bank of Russia maintained its key interest rate at 14% on October 23, 2026.
- Inflation expectations among Russians decreased by one percentage point to 13.2% by October 21, 2026.
- Inflation in the year-to-date period reached 6.15% as of October 21, 2026.
- The Central Bank expects annual inflation for 2026 to be between 7.1% and 7.6%.
- Food producers in Russia kept prices unchanged in September compared to August.
- Beverage producers in Russia increased prices by 0.2% in September compared to August.
Points of divergence
- The year-on-year inflation rate was 6.8% as of October 19, 2026. — vedomosti
- The Central Bank noted that persistent inflationary pressures remain and that inflation expectations hinder price growth slowdown. — vedomosti
- The Central Bank reported that long-term inflation expectations (five-year horizon) rose from 10.7% to 12.2%. — vedomosti
- Food producers' prices rose by 2.3% year-on-year, and beverage producers' prices rose by 5% year-on-year. — interfax
- In August 2026, food producers' prices increased by 1.9% compared to July, and beverage producers' prices increased by 0.2%. — interfax
Coverage (5 sources)
- Central Bank: current price growth in the third quarter accelerated to 8% on a year-over-year basis — Ведомости
- Russian food producers kept prices at August levels in September — Интерфакс
- Prices on vegetables and fruits in the Russian Federation increased by 0.7% from October 13 to 19, for the first time since mid-July — Интерфакс
- Prices of industrial producers in Russia rose by 2.5% in September — Интерфакс
- Fuel prices in the Russian Federation fell by 0.69% after rising by 0.01% last week — Интерфакс