Rosstat confirmed the assessment of inflation for 2015 year at 12.9%


Moscow. January 12. Inflation in the Russian Federation in December 2015 amounted to 0.8% after the same 0.8 percent in November and 0.7% in October, has informed on Tuesday Rosstat.

Thus, the Agency has confirmed the preliminary estimate published at the end of December. Unchanged, respectively, remained and the inflation rate for the whole year is 12.9%, which was the highest since 2008.

In 2014 inflation in Russia amounted to 11.4%, in 2013 – 6.5% in 2012 to 6.6% in 2011 to 6.1% in 2010 and 2009 was 8.8%. A higher rate was last recorded in 2008 (when inflation was 13.3%).

Inflation in December of 2015 was slightly below analyst expectations. The consensus forecast of economists polled by Interfax at the end of December, was equal to 0.9%.

In December of 2014 inflation amid sharp devaluation of the ruble clocked up a record at that time for the 10-year average 2.6% (then this record was more than offset by the in January 2015 and 3.9%).

According to Rosstat, food products in December 2015 rose by 1.2% overall for the year 2015 – 14% (15.4% in 2014). The growth of prices of manufactured goods in December was 0.4%, and for the year of 13.7% (8.1% in 2014). Services in December rose by an average of 0.7% and in 2015 – at 10,2% (10,5% in 2014).

The base consumer price index excluding changes of the prices for separate goods subject to influence of factors which carry administrative, and also seasonal nature, in December 2015 amounted to 100.6% (December 2014 – 102,6%), yoy – 113,7% (111,2%).

In December, the food group most significantly increased the prices of observed types of fruits and vegetables. So, tomatoes (the largest item of import of vegetables from Turkey) and fresh cucumbers became more expensive by 29.7% and 19.7%, respectively, lemons – on 14,0%, grape – by 12.3%, cabbage – by 8.1%. There were, however, lower prices for oranges by 0.3%.

At the same time on 0,2-0,7% in December, prices fell for pork, poultry, rice and mineral water.

In General, for the year 2015 had mentioned the high growth of prices for sunflower oil – by 37.2%, fish and seafood – by 20.9%, macaroni products – by 19.5%, fruit and vegetable products – 17.4%.

The cost of a conventional (minimal) set of food products per month on average in Russia at the end of December 2015 $ 3 589,9 thousand ruble and compared with the previous month increased by 1.2% (YTD 8.2%).

In 2016, according to economists, inflation in Russia considerably reduced to 7.6% (according to the consensus forecast, prepared in late December).

The CBR in mid-December forecast inflation in 2016 in the baseline scenario in the range of 5.5 to 6.5% when the price of oil at $50 per barrel and inflation at 7% in risky scenarios at the price of $35 per barrel.

The Ministry of economic development in the baseline scenario with $50 per barrel in 2016 and expects inflation at 6.4% in the conservative scenario at $40 per barrel – at the level of 8.3%.