Inflation in Russia slows down to 0.13% on June 27 - July 3

Business & Economy July 05, 2023, 22:19

According to statistics, prices for granulated sugar increased by 1.1%

MOSCOW, July 5. /TASS/. Inflation in Russia amounted to 0.13% from June 27 to July 3, 2023, according to the Russian State Statistics Service (Rosstat).

A week earlier - from June 20 to June 26 - inflation was at the level of 0.16%.

Since the beginning of July, consumer prices in the country have increased by 0.06%, since the beginning of the year - by 2.9%.

Food items

According to statistics, prices for granulated sugar increased by 1.1% during the reporting period, chicken meat and eggs - by 0.7%, noodles - by 0.5%, biscuits and black tea - by 0.4%, lamb, wheat flour, rice, lunches in the canteens and cafes - by 0.3%, semi-smoked and boiled-smoked sausages, sausages, dry milk formulas for baby food - by 0.2%, beef, pork, frozen fish, sterilized milk, cottage cheese, table salt - by 0.1%. Prices for fruits and vegetables increased by 0.5% on average, with potatoes up 3.2%, carrots - 2.9%, cabbage - 2%, apples - 1.8%, and red beets - 1.3%. At the same time, prices for onions fell by 3.1%, cucumbers - by 2.8%, tomatoes - by 1.3%, and bananas - by 1%.

Non-food items, medications, services

Prices for combination analgesics increased by 0.4%, nimesulide - by 0.3%, metamizole - by 0.2%.

In other non-food categories, toothpaste prices rose by 0.5%, matches and soap - by 0.3%, baby diapers, sanitary pads - by 0.2%, laundry soap - by 0.1%. Toilet paper and dry pet food prices declined 0.2%.

Prices for TVs increased by 1.1%, smartphones - by 0.5%, shampoos - by 0.2%, Russian cars and filter cigarettes - by 0.1%. At the same time, prices for motor gasoline increased by 0.3%, diesel fuel - by 0.1%.

According to the Ministry of Economic Development, Russia’s annual inflation accelerated to 3.43% from June 27 to July 3, 2023, against 3.21% a week earlier. "Price growth slowed to 0.13% in the week from June 27 to July 3, 2023. Annual inflation was 3.43%," the statement said.

According to the Ministry of Economic Development's updated forecast for Russia's socioeconomic development, GDP growth in Russia is predicted to reacg 1.2% this year and 2% in 2024. In Russia, inflation is expected to be 5.3% this year. The population's actual wages are also predicted to rise by 5.4%. The Ministry of Economic Development's press service said at the end of June that Russia's current inflation rate is slightly lower than the expected trajectory.

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