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Inflation in Russia slows down to 0.27% on July 2-8

At the same time, annual inflation in Russia in June 2024 accelerated to 8.59% against 8.3% in May

MOSCOW, 10 July. /TASS/. Inflation in Russia from July 2 to July 8 slowed down in comparison with the previous week and amounted to 0.27%, according to the data from the Russian State Statistics Service (Rosstat). A week earlier - from June 25 to July 1 - the inflation reached 0.66%.

Since the beginning of July consumer prices in Russia have increased by 0.77%, since the beginning of the year - by 4.68%. In annual terms, inflation in Russia as of July 10, 2024 (according to calculations based on average daily data for this and last year for similar dates) amounted to 9.41%.

At the same time, annual inflation in Russia in June 2024 accelerated to 8.59% against 8.3% in May. On a monthly basis, consumer prices rose by 0.64%, Rosstat said.

According to the statistics, in June food prices increased by 0.63% compared to the previous month, in annual terms - by 9.81%. Prices of non-food products increased by 0.29% in comparison with the previous month and by 7.01% in comparison with June 2023. The cost of services increased by 1.06% until May 2024 and by 8.79% in annual terms.

According to the Ministry of Economic Development, inflation in Russia as of July 8 amounted to 9.25% in annual terms. In June, price growth slowed to 0.64% month-on-month. In the week from July 2 to July 8, 2024, price growth in the consumer market slowed to 0.27%.

The Ministry noted that the inflation in the food sector amounted to 0.63% on a monthly basis. The rate of increase in the prices of fruits and vegetables was 2.02%, while the rate of increase in the prices of other food products slowed down to 0.43%.

In the segment of non-food products, growth rates slowed down to 0.29% against the backdrop of cheaper TV and radio products and communications. In the services sector, price growth also slowed to 1.06%.

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