Ministry of Economy reportedthat annual inflation in Russia from October 31 to November 7 increased from 6.69% to 6.99%. By data Rosstat, over the week, price growth accelerated from 0.14% to 0.42%. Since the beginning of November, consumer prices have increased by 0.37%.
In the food products segment, prices increased by a total of 0.47%. The cost of fruits and vegetables increased by 2.62%. Chicken eggs in 52 Russian regions have risen in price by 10-20%. At the same time, salmon caviar fell in price by (-2.5%), canned baby food and cocoa – by 0.2-0.7%.
The cost of non-food products increased by 0.63% on average. Passenger cars rose in price by 3.33%. Gasoline fell in price by 0.21%, prices for diesel fuel remained virtually unchanged.
In the segment of regulated, tourist and personal services, price growth slowed to 0.06%. The cost of air tickets for domestic flights decreased by 4.30%, and hotel and sanatorium services became cheaper.
According to the Central Bank’s base scenario, inflation in 2023 will be 7-7.5%, and will approach the target value of 4% in 2024. The head of the regulator, Elvira Nabiullina, said that inflation will decline in the spring of next year, but for several quarters it is necessary to maintain a tight monetary policy.