9 Oct 2024 20:34

Russia has 0.14% inflation in week, annual figure still near 8.6%

MOSCOW. Oct 9 (Interfax) - Russia had 0.14% consumer price inflation for the week October 1-7, the State Statistics Service (Rosstat) said.

Inflation was 0.19% from September 24-30, 0.06% for the week September 17-23, 0.10% for September 10-16 and 0.09% for September 3-9. There was 0.02% deflation for August 27-September 2.

Inflation was 5.87% YTD as on October 7.

It follows from data for the 7 days of October this year and last that annual inflation in Russia was 8.60% as of October 7, down from 8.70% on September 30 and 9.05% at the end of August - the Central Bank advocates this method to measure inflation. Annual inflation slowed to 8.52% on October 7 from 8.57% on September 30 based on average daily data for the whole of October 2023 - the Economic Development Ministry calculates annual inflation this way. Price growth for September 2023 as a whole was nearly 0.1% higher than weekly price growth for that month, hence the discrepancy between the two estimates. Rosstat will give a precise estimate of annual inflation for September on October 11.

Fruit and vegetables fell 1.2% in price last week, after falling 0.7% the previous week, with drops for cabbage - 2.5%, carrots - 2.6%, potatoes - 1.2%, beets - 1.8%, onions - 1.6%, apples - 2.5% and tomatoes - 0.8%. Prices rose for cucumbers - 0.5% and bananas - 0.7%.

Prices for butter increased 1.6%, pasteurized milk - 1.0%, sour cream - 0.8%, hard, semi-hard and soft cheeses - 0.7%, cottage cheese and rye bread - 0.6%, margarine, wheat bread - 0.5%, and boiled sausages, hot dogs, frankfurters, sterilized milk, sunflower oil and salt - 0.4%.

Granulated sugar decreased 0.9%, chicken meat - 0.4%, and pork - 0.2%.

Foreign-made passenger cars increased 0.6%, and the recycling fee for foreign cars rose substantially on October 1.

Gasoline and diesel went up 0.1% in the week.

Economy class airfares rose 1.7% in the past week after rising 6.5% the previous week.