Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Russia
RUSCPGRSE01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.55
Year-over-Year Change
150.00%
Date Range
1/1/2012 - 2/1/2022
Summary
The Consumer Price Index (CPI) for Services in Russia measures the change in prices for a basket of consumer services. It is a key indicator of inflation and economic conditions in the country.
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 CPI for Services in Russia is part of the Harmonized Index of Consumer Prices (HICP) framework, which provides a standardized measure of consumer price inflation across European countries. It tracks price changes for a representative basket of services that Russian households purchase.
Methodology
The data is collected by Russia's Federal State Statistics Service through surveys of retailers and service providers.
Historical Context
The CPI for Services is used by policymakers at the Central Bank of Russia to monitor inflation and guide monetary policy decisions.
Key Facts
- Russia's CPI for Services has risen by an average of 5.2% annually over the past decade.
- Services account for about 60% of the total consumer price basket in Russia.
- The Central Bank of Russia targets an annual inflation rate of 4%.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Services in Russia measures the change in prices for a basket of consumer services purchased by Russian households.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Services is a key indicator of inflation and economic conditions in Russia, used by policymakers to guide monetary policy and by analysts to assess the cost of living and purchasing power.
Q: How is this data collected or calculated?
A: The data is collected by Russia's Federal State Statistics Service through surveys of retailers and service providers.
Q: How is this trend used in economic policy?
A: The CPI for Services is used by the Central Bank of Russia to monitor inflation and make decisions on monetary policy, such as interest rate adjustments, to achieve the bank's inflation target.
Q: Are there update delays or limitations?
A: The CPI for Services data is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Russia (RUSCPGRSE01GYM), retrieved from FRED.