MOSCOW, July 19. /TASS/. Annual inflation in Russia from July 11 to July 17 accelerated to 3.86% against 3.59% a week earlier, the Ministry of Economic Development said on Wednesday.

"In the week of July 11 - 17, 2023, consumer prices increased by 0.18%. Inflation was 3.86% year-on-year. Prices in the food segment grew by 0.14%, owing to a rise in the growth rate of prices for fruits and vegetables. Other food prices have risen moderately. In the non-food sector, inflation was 0.24%, as prices for vehicles, electrical and household equipment grew. In the service sector, price rise slowed to 0.18% due to a decline in the growth rate of airline tickets," the ministry said.

According to the updated forecast for Russia’s socio-economic development, prepared by the Ministry of Economic Development, GDP growth is expected to be at the level of 1.2% this year, and 2% in 2024. Inflation in Russia in 2023 is projected at 5.3%. The growth of real wages of the population by 5.4% is also expected.

Rosstat reported earlier that inflation in Russia from July 11 to July 17, 2023, accelerated to 0.18% from 0.14% on July 4 - 10.

Since the beginning of July, consumer prices in the country have increased by 0.38%, and by 3.15% since the beginning of the year. In annual terms, inflation in Russia as of July 17, 2023 (according to calculations using average daily data for this and last year on similar dates), amounted to 3.64%.