Annual inflation in Moscow decreased to 9.54% in October, after 9.67% in September. socialbites.ca was informed about this by the press service of the Main Directorate of the Central Federal District of the Central Bank.
“At the same time, a decrease in inflation has been observed for the second month in a row. Annual inflation in the Central Federal District and throughout Russia decreased, reaching 9.06% and 8.54%, respectively. The decline in inflation in the Moscow region was mainly due to an increase in supply in certain service markets. The annual increase in food prices in Moscow and the Moscow region has accelerated somewhat. Prices for butter, milk and fermented milk products have increased most noticeably, the press service noted.
At the same time, the annual increase in prices for services in the capital and the Moscow region also slowed down. The Central Bank noted that the entire Moscow region is characterized by lower annual growth rates in the cost of economy class air tickets than last month. Tour operators expanded their offers of package tours to Turkey in the autumn-winter period, so the annual cost of such holidays in Moscow increased more slowly than last month.
The Central Bank announced that among the inhibiting factors of inflation in the Moscow region is the slowdown in the annual increase in cellular communication subscription fees. This was due to the high base effect of last year: in October 2023, companies providing communication services were more active than this year in transferring the costs of increased labor, modernization and expansion of the network and equipment maintenance into prices, the press service said.
According to the Central Bank, annual inflation across Russia fell to 8.54% (8.63% in September). But stable inflation rates, on the contrary, increased. This is evidence that domestic consumer demand continues to outpace the ability to increase production of goods and services. According to the Bank of Russia, monetary conditions need to be further tightened to ensure more limited demand growth and create conditions for a sustainable decline in inflation in 2025. According to the forecast of the Central Bank of Russia, inflation will fall to 4.5-5 percent in 2025, to 4 percent in 2026, and will remain close to 4 percent in the future.
Rosstat had previously issued another report price increase butter.
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Source: Gazeta
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