By William Collins, consultant in stock markets – Eurasia Business News, January 28, 2026. Article no 2019

View on the towers of Moscow City, from the Borodinsky Brigde, Moscow – January 2022. Photo credits : William Collins.

Inflation in the Russian Federation from January 20 to 26, was 0.19% after 0.45% from January 13 to 19 and 1.26% from January 1 to 12 (due to the holidays, it turned out to be almost twice as long as the usual weekly period), reported the Rosstat agency on Wednesday.

From the beginning of the year to January 26, the price increase was 1.91% (in January 2025, the price increase for 26 days was lower – 1.11%, and for the whole month – 1.23%).

From the data for 26 days of January this and last year, it follows that annual inflation in the Russian Federation as of January 26 slowed down to 6.43% from 6.46% as of January 19 (but accelerated from 5.59% at the end of December), if it is calculated from weekly dynamics (this methodology is followed by the Central Bank).

For the period from January 20 to January 26, 2026, the increase in prices for fruits and vegetables amounted to 2.0% (after an increase of 2.7% from January 13 to 19), including cucumbers – 4.6%, tomatoes – 1.8%, cabbage and carrots – 1.7%, potatoes – 1.6%, beets – 1.5%, apples – 1.3%, onions – 0.5% and bananas – 0.4%.

From January 20 to January 26, prices for vodka increased significantly – by 1.6%, beef – by 1.0%, margarine – by 0.7%, vermicelli – by 0.6%, kefir – by 0.5%, lamb, chicken eggs – by 0.4%, wheat bread – by 0.3%.

At the same time, prices for pork decreased by 0.4%, chicken meat and butter – by 0.3%.

Among non-food products, prices for electric vacuum cleaners decreased by 0.7%, smartphones – by 0.6%.

Prices for motor gasoline and diesel fuel from January 20 to 26 remained practically unchanged.

Among the services, prices for vacation trips to the UAE decreased by 4.3% and to the Black Sea coast of Russia – by 3.3%.

As reported, the Board of Directors of the Bank of Russia at a meeting on December 19 decided to reduce the key rate by 50 basis points to 16%. At the same time, the signal remained neutral.

“The Bank of Russia will maintain such tightness of monetary conditions, which is necessary to return inflation to the target. This means a long period of tight monetary policy. Further decisions on the key rate will be made depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations,” the statement said.

The Bank of Russia’s inflation forecast for 2026 was kept at 4-5% in December.

The Ministry of Economic Development expects (forecast from September) inflation in the Russian Federation in 2026 at the level of 4.0%.

The consensus forecast of economists polled by Interfax at the end of December for inflation in 2026 was 5.1%.

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© Copyright 2026 – Eurasia Business News. Article no. 2019