Russia: Annual inflation accelerates to five-year high

Published Sep 2, 2021

Tridge summary

Consumer prices in Russia have increased by 0.09% over the past week, marking an annual inflation rate of 6.79%, the highest since August 2016. The highest price increases were seen in biscuits, canned fruit and berries for baby food, pork, butter, and margarine. However, prices for chicken eggs, fruits, and vegetables fell. The food inflation was 0.08% and the growth rate of non-food products prices slowed down due to a decrease in gasoline prices. The Bank of Russia has revised its inflation forecast for 2021 and 2022.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Consumer prices in Russia rose by 0.09% over the week against 0.1% in the previous period, Rosstat reported. According to the Ministry of Economy, inflation in annual terms was 6.79%. This is the highest figure since August 2016, when prices increased by 6.9%. Prices have risen by 0.16% since the beginning of August, Rosstat said in a statement. During the period from 24 to 30 August, the highest prices rose for biscuits and canned fruit and berries for baby food (0.6%), pork (0.5%), butter and margarine (0.4%). Beef, canned meat for baby food, milk, cottage cheese, bread and bakery products made from wheat flour went up by 0.3%. The cost of chicken meat, sunflower oil and sugar increased by 0.1%. Chicken eggs fell in price by 0.5%, fruits and vegetables - by 0.9%. “The growth rates of prices for food, excluding fruits and vegetables, slowed down to 0.21% (0.3% a week earlier). Also, the seasonal decline in prices for fruit and vegetable products (-0.91% per week) continues to ...
Source: Zol

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.