Annual inflation in Russia accelerated to 6.38% in a week – Kommersant

By data Ministry of Economy, annual inflation accelerated over the week to 6.38% from 6.26%. At the same time, from data Rosstat follows that from October 10 to October 16, price growth slowed to 0.15% from 0.24% in the previous week. Since the beginning of the month, the price increase by October 16 was 0.45%.

As Rosstat reported, during the specified period prices for chicken eggs (+3%), pork and chicken meat (+0.9%), rice (+0.6%), and butter (+0.5%) increased. Prices for tomatoes (+5.5%), bananas (+1.3%), and onions (+0.9%) went up. Meanwhile, the cost of carrots and apples decreased by 1.8%, cabbage – by 1.5%, potatoes – 1.3%.

Among medicines, prices for levomekol, rengalin and ergoferon decreased (-0.1%). Among other non-food products, TVs (+1.2%), electric vacuum cleaners (+1.1%), and smartphones (+0.7%) went up in price. Prices for gasoline and diesel fuel decreased by 0.3%. Prices for regulated, tourist and household services increased by 0.06%.

In September, the Ministry of Economy raised the inflation forecast for the current year to 7.5% from 5.3%. On September 15, the Central Bank at a meeting of the board of directors raised the key rate by 100 basis points, to 13%. The regulator expects inflation to accelerate from 5–6.5% to 6–7% in 2023.

Lusine Balasyan