Weekly inflation in Russia accelerated to 0.12%

Inflation in Russia in the week from December 20 to 26 accelerated to 0.12% after 0.02% in the last week, follows from data Rosstat.

Since the beginning of the month, prices have increased by 0.85%, since the beginning of 2022 – by 12.01%. In annual terms, inflation was 12.19%, follows from data Mineka.

In the segment of food products, chicken eggs rose in price by 0.8%, cottage cheese – by 0.6%, cookies – by 0.5%, while buckwheat groats fell in price by 1.1%, granulated sugar – by 0.7%, and flour – by 0.1%. Fruit and vegetable prices rose by an average of 2.3%, with carrots (4%), onions (3.9%), tomatoes (3.7%), table beets and cucumbers (3.4%) the most expensive.

Among consumer goods, TVs (1.3%), jeans for children and smartphones (0.4%) and shampoos (0.3%) went up in price most of all, and among the medicines observed by Rosstat – ergoferon (1%) and rengalin (0. eight%). The cost of air tickets increased by 5.5%, and the average cost of vouchers – by 0.4%.

The Ministry of Economics earlier predicted inflation by the end of the year at 12.4%. A year earlier, this figure was 8.4%. It is assumed that in 2023 consumer price growth will be at the level of 5.5%, and in the future it will reach the target level of 4%. According to the results of this year, the country’s economy will contract by 2.9%, the Ministry of Economics expects, and in 2023 – already by 0.8%. In subsequent years, GDP growth is expected to be 2.6% per year.

As informed Yesterday, December 27, Deputy Prime Minister Andrey Belousov, inflation in Russia in 2023 is likely to be below the forecast of 5-6%. According to him, there are signs of non-fulfillment of indicators for economic growth while maintaining a deflationary situation. The Central Bank will go further to soften the monetary policy, the Deputy Prime Minister added.

Finance Minister Anton Siluanov on the same day notedthat in the first half of next year, inflation in Russia will be at a low level. “Inflation is down. In the first half of next year, it will definitely be at a low level,” he explained.