Inflation in Russia quickened to 1.14% in July; annual figure rose to 9.13%

MOSCOW. Aug 9 (Interfax) - Inflation in Russia quickened to 1.14% in July from 0.64% in June, the State Statistics Service (Rosstat) said.

Inflation was 0.74% in May, 0.50% in April, 0.39% in March, 0.68% in February and 0.86% in January 2024.

The faster inflation came as no surprise and was triggered by the indexation of housing and utility charges on July - this did not take place last year and had been brought forward to December 2022.

Prices rose 5.06% in January-July 2024. They had risen 0.63% in July 2023 and 3.41% in January-July2023.

Inflation in July 2024 was roughly level with the 1.1% that analysts predicted in a consensus forecast for Interfax.

Annual inflation, according to the Rosstat data, quickened to 9.13% in July from 8.59% at the end of June, 8.30% at the end of May, 7.84% at the end of April, 7.72% at the end of March 2024, 7.69% at the end of February and 7.44% at the end of January 2024 and 7.42% at the end of December 2023.

Core inflation was 100.40% in July and 100.58% in June 2024; the annual figure fell to 108.60% from 108.73%.

Food prices went up 0.36% in July and 9.67% in annual terms, with fruit and vegetables falling 0.22% and rising 16.80%, respectively.

Nonfood goods went up 0.58% in July and 6.66% in annual terms.

Service charges averaged up 2.86% in July and 11.36% in annual terms.