In May 2025, the monthly price growth, when seasonally adjusted, slowed to 4.5% in annualized terms. Non-food prices saw a decline for the second consecutive month. However, the growth rates of prices for main food products and personal and medical services remained high.
Annual inflation also continued its downward trend in May but was still significantly above the target set by the Bank of Russia. The central bank is committed to reducing inflation back to 4.0% by 2026 and aims to maintain it near this level thereafter.
Further information can be found in the latest issue of the Bank of Russia’s information and analytical commentary on Consumer Price Dynamics.
