Inflation Russia 2004
Average inflation: 10.9%
Current Inflation
Inflation is very high at 10.9%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 11.7%. The lowest inflation was in May at 10.1%.
- Highest month
- November: 11.7%
- Lowest month
- May: 10.1%
- Difference
- 1.6 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 5.7% lower than the 5-year average of 16.6%. This approaches the lowest level since records began (10.9% in 2004).
- 5-year average
- 16.6%
- 10-year average
- 47.5%
- All-time high (1993)
- 839.2%
- All-time low (2004)
- 10.9%
Trend
Inflation shows a downward trend. Compared to 2003, inflation has fallen by +2.8 percentage point.
- Change vs. previous year
- -2.8 percentage points
- Largest monthly swing
- March: -4.6 percentage points
ECB Target
Inflation is 8.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €110.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 11.3% | -3.0 |
| February | 10.6% | -4.2 |
| March | 10.2% | -4.6 |
| April | 10.2% | -4.4 |
| May | 10.1% | -3.5 |
| June | 10.1% | -3.8 |
| July | 10.4% | -3.5 |
| August | 11.3% | -2.0 |
| September | 11.4% | -1.9 |
| October | 11.5% | -1.7 |
| November | 11.7% | -0.8 |
| December | 11.7% | -0.3 |
| Average | 10.9% |
Data source
Data from OECD. Last updated: 24/11/2025.