Annual inflation in Russia in a week from 19 to 25 October accelerated from 7.78 percent to 7.97 percent. This is stated in the review “On the current price situation”, which prepared the Ministry of Economic Development. Data from it leads TASS.
It is reported that for the specified week, consumer inflation was 0.28 percent. Rising prices slowed down by 0.2 percent – mainly due to lowering the growth rates for fruits and vegetables. In the non-food sector, the rates of price increases amounted to 0.17 percent. At the same time, the prices for tourist and regulated services at the reporting week have practically not changed, as noted in the mayor, having increased by only 0.01 percent.
According to the Ministry of Economic Development, the restraining effect on the situation continues to provide deflation on building materials (a decline of up to 0.46 percent of the current week after 0.61 percent weeks earlier), as well as the slowdown in gasoline prices (growth of 0.14 percent Compared with 0.33 percent weeks earlier). In addition, it is noted in the review, the growth rates of passenger cars decreased (0.19 percent after 0.3 percent).
Speaking about the situation in the global market, the department requested that there were no wheat prices in Russia compared to France and the United States, where growth was three percent. Also increased (on average, by 2.3 percent) export prices for Russian hot rolled and cold-rolled rolling. The price of reinforcement on the London Commodity Exchange in the week has stabilized, the cost of exports from Russia increased by 2.9 percent.
Earlier, the Central Bank reported that, according to the results of 2021, inflation will be in the range of 7.4-7.9 percent, however, it is likely to pass through the upper edge. The director of the Bank of Russia’s monetary policy department, Kirill Tremov, acknowledged that it would not be possible to cope with the growth trend until the end of the year, trend turns will be sustained only in the first half of 2022.