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Russian inflation delayed to 0.4% in October

Russian inflation delayed to 0.4% in October, accumulating a CPI growth of 4.5% since the beginning of the year and annual inflation of 6.1%, according to latest information from Rosstat. The inflation slowed in comparison with the previous year, showing stabilization of the country’s economy.

The foods products contributed to the growth of CPI in Russia, as price of vegetables and fruits reported highest increase in October. The trend was highest in fresh tomatoes (+42.3%), cucumbers (+41.2%) and oranges (+19.1%), while the biggest decreases were reported to lemon (-18.1%) and fresh cabbage (-7.7%). The prices in the group of dairy products rose by 2.1%, while the other food products rose by 1.7%.

The prices of clothes, medicines and gas motor fuel also rose significantly in October. The motor gas fuel prices rose by 5.4%, while clothes rose by 2.8%.

In tobacco group, the highest increase was reported in the price of cigarettes from foreign brands, which increased by 1.4%.

Among the other non-food groups of products the CPI growth was 1.2%, as the steel rose by 1.2%, cotton and hard fuels rose by 1.1% and flat glass window increased by less than 1.0%.

However, the mobile phones and other technologies reported decrease in prices by 0.2-0.4%,.

Among services in Russia, the prices fell on tours in Europe, but rose hostels accommodations in Russia. With the end of the season massive summer holidays observed decline in prices and tariffs for passenger transport services, tourism and recreation.

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