Tridge summary
Inflation in Russia notably slowed down to 0.1% during the week of March 26 to April 1, 2024, with a minimal increase in consumer prices by 0.01% since the beginning of April and an overall rise of 1.87% since the year's start. Despite the government's efforts and collaboration with the Bank of Russia, which have contributed to a reduction in annual inflation to 7.4%, Prime Minister Mikhail Mishustin expressed dissatisfaction with the current inflation control measures. The report also details price fluctuations in the market, including increases in the cost of lamb, granulated sugar, and margarine, and decreases in fruits, vegetables, pork, eggs, buckwheat, and pasta. The Central Bank of Russia anticipates that the peak of annual inflation might occur in the second quarter of 2024, attributing it to base effects, yet acknowledges that the current trends are in line with its forecasts, albeit above the target inflation rate.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to Rosstat, inflation from March 26 to April 1, 2024 slowed to 0.1%, which is lower than the level of the previous week (0.11%). Since the beginning of April, consumer prices have increased by 0.01%, since the beginning of the year - by 1.87%. During the reporting period, the prices for lamb and granulated sugar increased the most (+1%), margarine rose in price by 0.9%, beef, wheat flour, cookies - by 0.4%. Frozen fish, milk, sour cream, dry milk formulas for baby food increased in price by 0.2%, cottage cheese, butter and sunflower oil, wheat bread, rice - by 0.1%. At the same time, prices for fruits and vegetables decreased by 0.6%. Including cucumbers fell in price by an average of 4.8%, white cabbage by 1.1%, onions by 0.4%, and tomatoes by 0.2%. The statistical agency also noted a decrease in prices for pork, eggs, buckwheat and pasta by 0.3%. Meanwhile, Prime Minister Mikhail Mishustin, speaking with a report on the work of the government in the State Duma, ...
Source: AgroInvestor
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