FX.co ★ Russia Inflation Rises to 2-Year High

In March 2025, Russia's annual inflation rate surged to 10.3%, marking the fifth consecutive rise to a peak not seen since the effects of Russia's invasion of Ukraine began manifesting in February 2023. This outcome was in line with the Bank of Russia's cautionary statement indicating potential ongoing increases in inflation, albeit with a forecasted easing of pro-inflationary risks. The steepest inflation was observed in services at 12.9%, and food products at 12.4%, particularly driven by an 18.9% increase in fruits and vegetables. Conversely, inflation for non-food products was comparatively modest at 6%. On a monthly basis, Russian consumer prices increased by 0.7%.