From August 31 to September 7, the price of “Bear Clubfoot” chocolate candies in some Russian stores increased by 42.9%, the author of the Mishek Index, Alexander Abramov, head of the Laboratory for Analysis of Institutions and Financial Markets of the Presidential Academy IPEI, told socialbites.ca.
“During the week, prices of carrots (-17.9%), orange juice J7 (-15.9%), Matias herring (-5.3%) and butter (-3%) fell. In addition to sweets, the price of Domik v Derevne milk also rose (+9.6%). This is the truth; chocolate prices change frequently and significantly. As a result, the Bears Index increased by 0.7% during the week, compared to a decrease of -1.8% a week ago,” the economist noted.
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According to Rosstat, consumer prices in Russia fell slightly by 0.02% from August 27 to September 2. The annual rate of price growth slowed to 8.87% from 9.01% the previous week. This is the first price decline since February 2023. Inflation since January has stood at 5.17% annually.
From August 25 to September 1, 2024, the Bears Index fell by 1.8%, down from a 0.6% drop a week earlier. That is, observed inflation fell more in the period under review than in the official period.
The Bears Index basket consists of 14 popular grocery products: sweets – Fruit-tella gummy bears and “Bears with Nailed Feet” (hence the name Bears Index), J-7 orange juice, the cheapest white bread, carrots, bananas, Matias herring, milk “House in the Village”, sunflower oil “Oleina”, the most affordable chicken carcass, tea “Akbar”, butter “Prostokvashino” and processed cheese “Fetaksa”. The Mishek Index allows you to draw conclusions about the dynamics of inflation in Russia.
Previously an expert perceived Price reduction in Russia.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.