Rise in prices in Russia will accelerate

The Ministry of Economic Development and Trade expects that prices will accelerate in March and the peak of annual inflation will be passed, after which the growth rate will begin to decline. This is stated in the ministry’s review “Inflation Pattern. March 2021”, TASS reports.

According to the department, inflation is expected to slow down by the end of March. In annual terms, inflation will remain at a level close to the current one.

According to Rosstat, annual inflation in Russia accelerated to 5.67 percent in February after 5.19 percent in January, and in monthly terms, consumer prices rose 0.78 percent.

In February, it was reported that the real growth in consumer prices in Russia in January 2021 compared to December 2020 was more than four times higher than the official statistics of Rosstat show. Over the month, real inflation in the category of consumer goods (FMCG) increased by three percent, although Rosstat estimated it at 0.7 percent.

Annual inflation in January, according to Romir’s estimates, was 11 percent, and according to Rosstat’s estimates – 5.2 percent. Compared to January 2019, consumer goods rose 18 percent.

/Media reports.