Consumer demand in Russia saw an increase in February 2025, primarily driven by a rise in demand for services. However, household demand for expensive non-food goods showed signs of moderation.
While price growth rates and inflation expectations among households and businesses decreased, they remained at elevated levels. The overall economy experienced growth, though trends varied across different industries. Notably, machine builders in the North West, Volga Region, Urals, and South increased their output due to import substitution and public procurement efforts. Conversely, cargo traffic at Far Eastern seaports declined as a result of reduced exports of oil and petroleum products.
Further insights can be found in the March issue of the “Regional Economy: Commentaries by Bank of Russia Main Branches” report. This edition covers special topics such as monetary conditions, credit and deposit markets, as well as housing construction.
