Russia weekly inflation holds at 0.31% as annual rate nears 6% threshold

Weekly price pressures remain contained, but the annual figure's proximity to the central bank's 7.5% target keeps policy uncertainty alive amid shrinking reserves.

By Handelsavisen Newsroom · Automated 2026-07-08 17:26 UTC · 1 min read

Consumer prices in Russia rose by 0.31% during the week ending July 6, according to data from the Federal State Statistics Service (Rosstat).

The weekly increase follows a 0.26% rise recorded in the prior week, indicating that short-term price momentum remains relatively stable despite broader macroeconomic headwinds.

As of late June, Russia’s annual consumer price inflation had reached 6%, a figure reported by the Ministry of Economic Development.

The latest weekly print adds to a picture of persistent underlying inflation.

As of late June, Russia’s annual consumer price inflation had reached 6%, a figure reported by the Ministry of Economic Development.

This level is significant for the Bank of Russia, which has maintained a 7.5% inflation target.

While the annual rate remains below the target ceiling, the proximity to the upper bound limits the central bank’s flexibility to ease monetary policy, particularly as the economy navigates post-pandemic and geopolitical adjustments.