Information on the dynamics of changes in the consumer prices and tariffs.
August 2018.

In August 2018, the increase in consumer prices totaled 5% in annual terms.

In August against July 2018, consumer prices grew by 0.1%.

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

August 2018 witnessed higher annual growth rates of the basic price indicators compared with the previous month. Their increase is largely due to the effect of a low base last year.

The annual core inflation in August 2018 accounted for 3.3% (3% a month earlier). At the same time, the growth of this indicator over the month did not exceed the average monthly rate of core inflation in the current year. The accelerated increment in prices for poultry meat, which was noted in June-July 2018, was followed by stabilization of their dynamics. At that, a temporary acceleration in the growth of prices for substitute products (pork) is observed.

The aggregated indicator of trend inflation in August increased by 3.4% in annual terms against 3.2% a month earlier. Relative to July 2018, the trend inflation amounted to 0.3%, which corresponds to its average monthly dynamics in the current year. The average intensity of growth in consumer prices was 3% compared to August 2017, while the indicator’s monthly growth rate remained at the level of the previous month.

Administratively regulated prices and tariffs in annual terms grew by 9.7% (9.1% a month earlier), which was caused by the increase in prices primarily for fuel, as well as strong alcoholic beverages and tobacco products.

Prices for fruit and vegetable products in annual terms increased by 3% (a decrease by 7.3% in July 2018). In general, the current dynamics of prices for seasonal vegetables and fruits corresponds to the trajectory, which is characteristic for this period of the year. However, due to a significant growth in prices for certain items (white cabbage, bananas, citrus fruits), prices for fruit and vegetable products in August 2018 declined to a lesser extent than a year earlier.

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

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

Methodological explanations   Archive