Symbolic deflation recorded in Russia for the first time in a year

In Russia, for the first time since September 2020, a weekly deflation was recorded, according to Rosstat data. During the period from 13 to 19 July, prices dropped to a symbolic negative value of -0.01%. Annual inflation slowed down over the week by 0.06 percentage points, to 6.5%, due to a decrease in prices for vegetables and services, according to the analysis of the current price situation of the Ministry of Economy.

Since the beginning of the year, prices have increased by 4.59%, since the beginning of July – by 0.38%, according to Rosstat. Salt and buckwheat prices increased by 0.4%, sunflower oil prices – by 0.2%. The price of carrots began to fall in price – by -3.8% over the week, potatoes -6.2%, tomatoes and cucumbers -5.4%, onions -2.4%. Cabbage continues to rise in price – over the week + 2.4%, since the beginning of the year the growth was + 93.1%.

The Ministry of Economy said that the dynamics of food prices “in general remains stable”, if you do not take into account fruits and vegetables. The ministry noted a slowdown in inflation in the non-food services sector, but indicated that prices for building materials are growing at the same increased pace as last week. Recall that in early July, after the publication of inflation data, the Federal Antimonopoly Service initiated an inspection of manufacturers of concrete, brick, wood-based materials and PVC products in order to find out the reasons for the increase in prices.

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