Weekly deflation in Russia slowed to 0.03%

The ongoing deflation in Russia in the period from 6 to 12 September slowed to 0.03% after 0.13% a week earlier, follows from data Rosstat.

Since the beginning of the month, deflation has been 0.12%, and since the beginning of 2022, prices have increased by 10.27%. In annual terms, over the same period, inflation (according to data Ministry of Economic Development) decreased to 14.6% after 14.8% a week earlier.

Over the past week, flour fell on average by 0.9%, sugar and millet – by 0.8%, buckwheat – by 0.6%, chicken – by 0.4%, and salt – by 0.1%.

Fruit and vegetable prices fell on average by 1.6%, the prices for onions (-8.9%), potatoes (-5.2%) and carrots (-5%) fell the most. At the same time, cucumbers went up in price by 8.4% at once, and bananas – by 1.5%.

In the consumer goods segment, prices for children’s tracksuits (+0.5%), children’s shoes, smartphones and filtered cigarettes (+0.2%) rose more than others. Gasoline prices remained at the same level, diesel prices rose by 0.1%.

On September 5, Minister of Economic Development Maxim Reshetnikov, speaking at the final strategic session on the main areas of economic policy under sanctions, said that by 2030 the Russian economy would exceed the level of 2021 by 17% if the “accelerated adaptation” target scenario is implemented.

It was noted that the proposed systemic solutions should help overcome the recession and achieve sustainable growth as early as 2024. It is assumed that positive dynamics will primarily be provided by internal growth – both consumer and investment, priority areas were developed at specialized sessions, the report said. ministries.

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