Russia's annual inflation hits 6% as weekly price growth slows

The central bank's 7.5% target remains in sight, but persistent pressures keep the ruble under scrutiny amid mixed economic signals.

By Handelsavisen Newsroom · Automated 2026-07-01 16:51 UTC · 1 min read

Russia's annual consumer price inflation reached 6% as of June 29, according to data from the Ministry of Economic Development.

The figure marks a notable milestone for the central bank, which has maintained a 7.5% inflation target for 2026.

22% during the week ending June 29, down from previous periods.

While the annual rate remains below the upper bound of the target corridor, the underlying dynamics suggest a complex picture for monetary policy.

Weekly price growth decelerated to 0.22% during the week ending June 29, down from previous periods.

This moderation in short-term price pressures provides some relief to policymakers who have been navigating a delicate balance between supporting economic activity and containing inflation.

The slowdown suggests that some of the earlier inflationary impulses may be fading, though the annual rate remains elevated compared to pre-pandemic norms.