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Russia’s annual inflation slows down to 2.32% on May — May 10 — ministry

Prices for food items fell by 0.06%, with prices for fruits and vegetables falling faster and prices for other food items growing slower

MOSCOW, May 13. /TASS/. Russia’s annual inflation from May 3 to May 10, 2023, slowed down to 2.32% from 2.42% a week earlier, the Ministry of Economic Development said in its report.

"Prices have not changed between May 3 and May 10, 2023. Inflation fell to 2.32% year-on-year. Prices for food items fell by 0.06%, with prices for fruits and vegetables falling faster and prices for other food items growing slower. In the non-food sector, prices fell by 0.01%, with lower prices for electrical and household appliances and a slowdown in the rise in prices for cars. In the service sector, price growth slowed down amid reduced growth in prices for household services," the report said.

The Ministry of Economic Development said earlier that annual inflation in Russia from April 25 to May 2, 2023, slowed to 2.42% from 2.55% a week earlier.

In mid-April, Russia’s Minister of Economic Development Maxim Reshetnikov said that according to the forecasts of the ministry, inflation in Russia by the end of 2023 is expected to be at the level of 5.3%. The Bank of Russia’s forecast for inflation this year is within 4.5-6.5%.

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