Rosstat records deflation for the second month in a row

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In Russia, deflation was recorded for the second month in a row. Tracks from this data rosstat.

It is recorded that it accelerated to 0.39% in July compared to 0.35% in June. At the same time, on an annual basis, price growth slowed to 15.1% from 15.9% in July.

“In July 2022, compared to June 2022, the consumer price index was 99.61 – 110.98% compared to December 2021,” the government agency’s report says.

Usually, price reductions take place in August and September, when farmers harvest and the food supply increases. However, in 2022, deflation has been going on since the beginning of summer.

Prior to this, such deflation was observed in 2017 – in August and September, and in 2019 – during the same period. In 2011, price reductions were made in July, August and September.

According to Rosstat, the drop in prices in July is attributed to cheaper fruits and vegetables. It is stated that the price of food products as a whole fell by 1.5% and non-food products by 0.4%.

However, there is an increase in prices in the service sector. It was 1.4%.

Formerly Rosstat reportedFixing weekly deflation at 0.14% in Russia .

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