Information on the Dynamics of Changes in the Consumer Prices and Tariffs.
December 2018

In December 2018, the increase in consumer prices totaled 5.6% in annual terms, that is in line with the inflation target for 2018 – no more than 6%.

In December against November 2018, consumer prices grew by 0.8%.

Growth of consumer prices
(% to the corresponding month of the previous year)

Dynamics of consumer prices
(on a year-on-year basis)

Core inflation
(% to the corresponding month of the previous year)

Administratively regulated prices and tariffs
(% to the corresponding month of the previous year)

Seasonal prices (for fruits and vegetables)
(% to the corresponding month of the previous year)

Aggregated indicator of the trend inflation
(% to the corresponding month of the previous year)

General characteristics of changes in the consumer prices

In December 2018, the key price indicators were characterized by the higher annual growth rates compared with the previous month.

The annual core inflation in November 2018 accelerated to 4.8% (4.1% a month earlier). At that, the annual growth of this indicator in December 2018 did not exceed the average monthly rate of 2018. In 2017, trade organizations provided to buyers significant price discounts in the period preceding New Year's Day with a view to promoting sales. In the current year, this factor was less important due to the growth in the households' incomes, that led to acceleration of core inflation in annual terms.

Trend inflation in annual terms in December 2018 amounted to 4.3% (3.9% a month earlier). The growth of this indicator over the month slowed down nearly twice compared with November 2018 (from 0.42 to 0.26% ). The annual intencity of growth of consumer prices and tariffs totaled 3.9% over the year.

According to the data for December 2018, the prices for fruits and vegetables dropped over the year by 0.9% (by 2.5% a month earlier). At that, the prices for the products cultivated in the country (potatoes, cabbage, onions, carrots, and beet) significantly increased in annual terms, while the prices for cucumbers and fresh tomatoes, as well as the majority of fruits, have not restored yet.

The annual increase in administratively regulated prices and tariffs totaled 9% (8.5% a month earlier). The growth of prices under this group of goods and services accelerated due to increase in the price of communication services, travel in urban passenger and suburb automobile transport, funeral services, as well as the prices for fuel and tobacco products.

Dynamics of consumer prices
(on a year-on-year basis)

Dynamics of inflation indicators
(on a year-on-year basis)

Methodological explanations   Archive