29 May 2024 20:55

Russia had 0.10% inflation for May 21-27, annual figure holds above 8.1%

MOSCOW. May 29 (Interfax) - Russia had 0.10% consumer price inflation for the week May 21-27, the State Statistics Service (Rosstat) said.

Russia had 0.11% inflation for May 14-20, 0.17% inflation for May 7-13, 0.09% inflation for May 3-6 and 0.06% for April 23-May 2.

A period of four days from May 3-6, and 10 days from April 23-May 2 before that was used to gauge price growth instead of the usual seven days due to the holidays.

Prices grew 0.48% in the first 27 days of May and 2.95% since the start of the year.

It follows from data for the first 27 days of May this year and last that annual inflation in Russia had risen to 8.15% as of May 27 from 8.12% on May 20 and 7.84% at the end of April - the Central Bank advocates this methodology to measure inflation. Annual inflation quickened to 8.07%, from 8.03% as of May 20, based on average daily data for the whole of May 2023 - the Economic Development Ministry calculates annual inflation this way.

Fruit and vegetables averaged down 0.3% in price in the last week, compared with a drop of 0.7% the week before that, with prices falling for cucumbers - 8.1%, tomatoes - 7.9% and cabbage - 0.1%. They rose for potatoes - 9.9%, onions - 6.1%, carrots - 4.1%, beetroot - 3.3%, apples - 2.2% and bananas - 0.5%.

Prices rose for boiled sausage - 0.5% and chicken meat, sausages, frankfurters, butter, margarine and rye bread - 0.4%.

They fell for chicken eggs - 1.9%.

Prices rose for edged boards - 1.2% and chipboards - 1.0% but fell for TVs - 0.5% and smartphones - 0.3%.

Gasoline and diesel went up 0.1%.

Economy class air fares rose 2.9% in the past period after growing 2.0% in the previous period. The Russian Economic Development Ministry said in its Current Price Situation report that it estimated annual inflation at 8.07% on May 27.

The ministry said consumer price inflation had slowed to 0.10% in the period May 21-27. Food inflation quickened to 0.08% from 0.06% the previous week. The drop for fruit and veg prices continued at 0.35% while other foods fell 0.12%, compared with 0.13% decline the previous week. Price growth for nonfood goods slowed to 0.05% from 0.07% as prices for local brands of passenger car stopped rising and price growth for medicines slowed. Service charges rose 0.29% compared with 0.27% growth the previous week as domestic air fares grew.