Consumer Price Index: Total Services for the Russian Federation
CPSETT01RUM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.27
Year-over-Year Change
9.02%
Date Range
1/1/1992 - 11/1/2015
Summary
The Consumer Price Index: Total Services for the Russian Federation measures changes in the prices of services purchased by consumers in Russia. It is a key indicator of inflation and consumer spending in the Russian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Consumer Price Index: Total Services tracks the prices of a broad basket of services consumed by Russian households, including housing, utilities, transportation, healthcare, and entertainment. This metric is closely monitored by policymakers and economists to assess the overall cost of living and inflationary pressures in the Russian market.
Methodology
The data is collected through surveys of Russian consumers and businesses by the Federal State Statistics Service.
Historical Context
The Russian CPI services index is used to inform monetary policy decisions by the Central Bank of Russia.
Key Facts
- The base year for the Russian CPI services index is 2016.
- Services account for approximately 60% of the total Russian CPI basket.
- The CPI services index reached a record high in 2022 amid elevated inflation.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Total Services for the Russian Federation measures changes in the prices of a broad basket of services purchased by consumers in Russia.
Q: Why is this trend relevant for users or analysts?
A: The Russian CPI services index is a key indicator of inflationary pressures and the overall cost of living in the Russian economy, making it highly relevant for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Russian consumers and businesses by the Federal State Statistics Service.
Q: How is this trend used in economic policy?
A: The Russian CPI services index is used by the Central Bank of Russia to inform monetary policy decisions and manage inflation targets.
Q: Are there update delays or limitations?
A: The Russian CPI services data is published monthly with a short lag, providing timely insight into inflationary trends in the Russian services sector.
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Citation
U.S. Federal Reserve, Consumer Price Index: Total Services for the Russian Federation (CPSETT01RUM661N), retrieved from FRED.