The Consumer Price Index released by the Federal State Statistics Service
is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of Russian Ruble is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the Russian Ruble, while a low reading is seen as negative (or Bearish).