Weekly inflation in Russia slowed to 0.05%

Inflation in Russia from March 21 to March 27 was 0.05%, follows from calculations Rosstat. From March 14 to March 20, inflation, according to the agency, was 0.1%. Since the beginning of the year, prices have increased by 1.47%. Annual inflation from March 21 to March 27 slowed to 4.3%.

In the food segment, prices increased during the reporting period, in particular, for eggs (0.8%), dry mixes for milk nutrition (0.5%) and boiled sausages, granulated sugar and rice (all by 0.4%) . Among fruit and vegetable products, cucumbers (2.4%), tomatoes and bananas showed the largest price increase, which rose by 0.7%.

At the same time, prices for table beet (0.8%), potatoes (0.7%) and white cabbage (0.3%), as well as for buckwheat (1.1%), chicken meat (0.4%) ) and sterilized milk (0.3%).

Among medicines, prices for multivitamins rose by 0.2% over the week, allochol and validol – by 0.1%. Prices for domestic analgin decreased by 0.4%, and for combined analgesics – by 0.2%.

Of the non-food products, prices for men’s socks grew the most – by 0.5%, T-shirts, men’s T-shirts – by 0.4%, women’s tights – by 0.3%. Gasoline prices remained practically unchanged during the reporting period, while diesel fuel prices decreased by 0.1%.

In the service sector, Rosstat recorded a decrease in prices for a flight in an economy class cabin (by 3.1%) and an increase in the average cost of living in hotels. The most significant increase in prices was demonstrated by three-star hotels (0.7%).

According to the CBR’s latest Infom poll, household inflation expectations dropped to 10.7% in March 2023, back almost exactly where they were two years ago. Current inflation indicators are on the chart of movement towards the Bank of Russia’s target of 4% per annum and will be significantly lower than this level in April. Nevertheless, the risks of a too rapid recovery of inflationary pressure “in the open” are unlikely to have become significantly less.

More details – in the material “Everything passes, even inflation”.

Erdni Kagaltynov