Ministry of Economic Development evaluated the inflation level in Russia 19:58

While annual inflation in Russia was 7.58% as of February 26, it remained almost unchanged compared to a week ago (7.57%). This follows from the review of the Ministry of Economic Development of the Russian Federation “On the current price situation” received by the editors of socialbites.ca.

The growth rate of consumer prices in the week between February 20 and February 26, 2024 was 0.13%. Inflation in the food products segment slowed down to 0.19% from 0.25% in the previous week.

According to the ministry, the decrease in cucumber and potato prices has led to a slowdown in the increase in fruit and vegetable prices. The decline in egg prices has resumed, and chicken and pork prices have continued to fall.

The price of non-food products has practically not changed, the Ministry of Energy recorded near-zero dynamics for them. Prices for tourist, regulated and personal services increased by 0.3% due to an increase in air ticket prices for flights within Russia (3.2%).

According to Rosstat, annual inflation in Russia reached 7.42% in 2023. For six months prices rose very slowly; For example, annual price growth in May was only 2.5%, even taking into account the high base. But in the autumn months, inflation accelerated sharply, despite an even sharper increase in refinancing rates: the key rate doubled from 7.5% to 15%. Inflation rose to 6% in September and rose by almost one and a half points by the end of the year.

Previously happened It is known that inflation in Russia will slow down in 2024.

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Source: Gazeta

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