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Russia’s annual inflation grows to 7.16% on November 8 - 13

"The rate of price growth in the services sector was 0.21%, owing to the continuation of increases in the price of domestic flight tickets," the statement said

MOSCOW, November 15. /TASS/. Russia’s annual inflation from November 8 to November 13 accelerated to 7.16% from 6.99% a week earlier, the Russian Ministry of Economic Development said.

"Inflation in the consumer market fell to 0.23% from November 8 to November 13, 2023. Price growth was 7.16% year-on-year. The pace of price growth in the food products segment slowed down (0.42%) due to a 0.22% fall in prices for food items excluding fruits and vegetables. The rate of price growth for fruits and vegetables remained unchanged from the previous week (2.61%). Price rise in the non-food group also slowed to 0.07%, owing to a decline in interest rates and an increase in passenger car prices. The rate of price growth in the services sector was 0.21%, owing to the continuation of increases in the price of domestic flight tickets," the statement said.

On September 22, the Ministry of Economic Development published an updated forecast of the socio-economic development of Russia for the period 2024-2026. According to the document, the ministry raised the forecast for inflation in Russia in 2023 from 5.3% to 7.5%.

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