Weekly inflation in Russia accelerated to 0.58%

Consumer prices in Russia in the week from November 29 to December 5 rose by 0.58% after 0.19% and 0.11% in the previous two weeks, follows from Rosstat data.

Since the beginning of December, the rise in prices has amounted to 0.52%, since the beginning of the year – 11.71%.

In the food segment, the prices for chicken eggs (+0.8%), sausages, sausages and pasteurized milk (+0.4%) grew the most, while prices for granulated sugar (-1.3%) and buckwheat groats decreased the most. (-0.6%), vermicelli (-0.5%) and chocolates (-0.3%).

Fruit and vegetable prices rose by an average of 2.9% due to growth in prices for cucumbers (+14.2% after +12.1% a week earlier), beets (+2.8%), carrots (+2.6%) and cabbage (2.4%). At the same time, apples fell in price by 0.9%.

Of the medicines observed by Rosstat, multivitamins (+1%), Corvalol and Levomekol (+0.5%) went up in price more than others, validol (-0.4%) and combined analgesics (-0.2%) fell in price. In the group of consumer goods, vacuum cleaners (+0.5%) and T-shirts (+0.4%) went up in price, particle boards (-1.1%), edged boards (-0.8%) and TVs (-0.5%) went down in price. %).

The cost of air tickets increased by 5.7%, tariffs for electricity supply increased by 8.6%, for water disposal – by 7.9%, for heating – by 6.9%, for gas supply – by 6.5%.

December 5, Minister of Economic Development Maxim Reshetnikov declaredthat Russia found itself in a unique situation where inflation in the country is already lower than in many Western countries. November 15, Chairman of the Central Bank Elvira Nabiullina toldthat inflation in Russia now is not much different from the rate of price growth in comparable economies, despite the fact that the Russian Federation had to deal with “much larger shocks.”

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.

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