In the third quarter of 2026, the rate of price growth in Russia reached 8 percent
The Central Bank of Russia has maintained its key interest rate at 14% per annum. Additionally, the regulator revised its inflation expectations for 2026, raising them to a range of 7.1-7.6%. This was reported by Economichna Pravda, according to the portal PromPolitInform.
The financial institution noted that as of October 19, annual inflation in Russia was recorded at 6.8%. Given the current trend, a further increase in this figure is expected by the end of the calendar year.
Factors driving inflation
The regulator identifies the cost of motor fuel as the primary driver of price pressure. This has led to a significant increase in inflationary pressure within the economy over the recent months.
In the third quarter of 2026, seasonally adjusted price growth in annual terms reached 8.0%. For comparison, this figure was significantly lower in the second quarter, at 4.8%.
Core inflation and outlook
The core inflation indicator is also showing negative dynamics, jumping to 6.2% compared to 4.5% in the previous quarter. Despite the current deterioration in the situation, Russian authorities hope to return to an inflation rate of 4% in 2027.
It is worth noting that as recently as July this year, the forecasts were more optimistic: at that time, the Central Bank of Russia expected inflation to remain within the 6.0-7.0% range. Furthermore, the 2026 GDP growth forecast was revised downward to a range of 0-1%, compared to the previous 0.5-1.5%.
Photo: Economichna Pravda
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