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Annual inflation in Russia up to 4.66% in week ended Aug. 14 from 4.43% in previous week

Earlier reports said that according to the Russian Central Bank’s projections, annual inflation in Russia would continue rising in coming months, whereas by the end of the year it is projected at 5-6.5%

MOSCOW, August 16. /TASS/. Annual inflation in Russia accelerated to 4.66% on August 8-14 from 4.43% in the previous week, the Economic Development Ministry reported on Wednesday.

"During the week from August 8 to 14, 2023 prices rose by 0.1% on the consumer market. Year-on-year inflation amounted to 4.66%. In the food sector prices were almost flat <…>. In the non-food segment prices added 0.21% mainly due to an increase in growth rates of prices for passenger cars of foreign brands, as well as electric and home appliances. In the sector of services, the growth of prices resumed with moderate rates," the ministry said.

Earlier reports said that according to the Russian Central Bank’s projections, annual inflation in Russia would continue rising in coming months, whereas by the end of the year it is projected at 5-6.5%. Consumer prices grew by 0.61% on average month-on-month over the past three months, which equals 7.6% in annual terms, according to the regulator.

According to the revised outlook on Russia’s social and economic development prepared by the Economic Development Ministry, inflation in Russia is expected at 5.3% this year.

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