MOSCOW, RUSSIA / EuroWire / — Russia’s annual inflation slowed to 5.58 percent in April 2026 from 5.86 percent in March, official data showed, as consumer prices increased 0.14 percent from the previous month. The April consumer price index placed cumulative inflation since the start of 2026 at 3.11 percent, giving the latest monthly and annual reading for one of the main indicators used to track household costs across the Russian economy.
The Federal State Statistics Service, known as Rosstat, reported that food prices declined 0.2 percent in April compared with March, while remaining 4.02 percent higher than a year earlier. The monthly decline in food prices contrasted with increases in non-food goods and services, narrowing overall consumer price growth for the month. Food costs remain a closely watched component of Russia’s consumer inflation basket because of their direct effect on household budgets.
Non-food goods prices rose 0.26 percent month-on-month in April and were 3.88 percent higher than in April 2025. The services category posted the largest annual rise among the main groups, increasing 0.47 percent from March and 9.9 percent year-on-year. The official breakdown showed that services continued to outpace the annual price increases recorded for both food products and non-food goods during the month.
Services remain strongest component
The April figures marked a moderation in headline annual inflation while keeping price growth above the 4 percent inflation target used by the country’s monetary authorities. The 0.14 percent monthly rise was also below the cumulative pace recorded over the first four months of the year, when consumer prices were up 3.11 percent from December. The data showed a slower monthly increase in April than the average pace implied by the year-to-date total.
Russia’s consumer inflation data are monitored by households, businesses and policymakers because they affect wage negotiations, retail demand, lending conditions and monetary policy settings. The April reading followed a period in which annual inflation stayed above the official target, even as the headline rate moved lower from March. The category data showed a mixed structure, with lower food prices on the month offset by higher prices for services and goods.
Rate setting context continues
The Bank of Russia lowered its key interest rate by 50 basis points to 14.50 percent per annum on April 24, before the final April inflation reading was released. At that decision, the monetary authority stated that measures of underlying price growth had not yet declined and remained in a 4 percent to 5 percent annualized range. The key rate remains one of the main policy tools used to influence borrowing costs and inflation.
The April inflation release provides the latest official snapshot of price dynamics in Russia, combining a softer headline annual rate with continued services-led price pressure. Annual inflation eased by 0.28 percentage points from March, while the monthly gain in consumer prices remained positive. The data showed food prices falling from the previous month, non-food goods rising moderately and services maintaining the highest year-on-year increase among the main consumer categories.