Annual inflation in Russia rose to 2.41% over the week – Kommersant

In the fourth week of May, annual inflation rose to 2.41% yoy against 2.36% the week before last. The current data of Rosstat are published by the Ministry of Economy (.pdf). In the days from May 23 to May 29, prices increased by 0.08%.

Food prices fell by 0.03% due to a general decline in prices for fruits and vegetables (-1.67%). The prices of onions (-4.87%), cucumbers (-7.86%) and tomatoes (-10.03%) fell most noticeably. In other food segments, growth rates remained unchanged (0.10%).

Non-food products rose in price by 0.13% – prices for electrical and household appliances resumed growth (0.23% after falling by 0.49% last week), prices for building materials (0.72%) and gasoline continued to rise (0.72%). .31%). The growth rate of prices for regulated tourism and personal services amounted to 0.19%: air tickets (1.89% for domestic flights) and travel services (1.20%) continued to rise in price.

The inflation target of the Bank of Russia is 4%. The Ministry of Economy predicts inflation at the level of 5.3% by the end of 2023. The IMF gives a forecast of 7%, the European Commission – 6.4%.

Up-to-date data on inflation dynamics by May 31, 2023 – in the material “Kommersant” “Successful pay more”.

Grigory Leiba