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CPI Prints Mixed, but May Signal a Cyclical Peak

RUSSIA
  • Russia Headline CPI:
    • MARCH CONSUMER PRICES RISE 5.79% Y/Y; EST. +5.8%
    • MARCH CONSUMER PRICES RISE 0.66% M/M; EST. +0.6%
  • Core CPI:
    • MARCH CORE CPI RISES 5.38% Y/Y; EST. +5.1%
    • MARCH CORE CPI RISES 0.83% M/M; EST. +0.5%
  • Mixed CPI print with core figures slightly higher and m/m headline a fraction over estimates
  • However, this may add weight to the theory that CPI may have reached its cyclical peak in March and will moderate into year end
  • It is encouraging that we didn't have another successive upside surprise
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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