Deflation in Russia from July 23 to August 1 was 0.14% – ExpertRU

Rosstat from July 23 to August 1, 2022 (for 10 days) recorded deflation in the Russian Federation at the level of 0.14% after a deflation of 0.08% from July 16 to 22, a deflation of 0.17% on July 9-15 and a deflation in 0.03% July 2 – 8.

It is noted that since the beginning of 2022 by August 1, prices have increased by 11.16%.

From July 23 to August 1, eggs fell by 1.1%; salt fell in price by 0.9%, millet – by 0.8%, buckwheat – by 0.6%, boiled sausages and sunflower oil – by 0.4%. Prices for canned meat for baby food rose (price increase by 0.7%), lamb (0.5%), chocolates (0.4%), as well as beef and black tea (0.3%).

Vegetables and fruits became cheaper by 3.9%. Potatoes fell in price by 7.8%, beets – by 7.1%, carrots – by 6.1%, cabbage – by 5.2%. Prices for bananas (4.3%), cucumbers (4.1%), tomatoes (2.5%), apples (2.1%) and onions (1.4%) also decreased.

Among the non-food products that fell in price were chipboard boards, prices for which fell by 1.3%, televisions (a decline of 1%) and electric vacuum cleaners (0.6%).

Gasoline and diesel prices remained virtually unchanged.

The cost of a flight in the economy class of an aircraft on average in the Russian Federation increased by 2.6% (a week earlier, the growth was 3.9%).

Data for the last week of July indicate that annual inflation in the Russian Federation slowed down by August to 15.27% from 15.37% on July 22, 15.46% on July 15, 15.68% on July 8, 15, 90% at the end of June, 17.10% at the end of May, 17.83% at the end of April, 16.69% at the end of March after 9.15% at the end of February, 8.73% at the end of January and 8.39% at the end of December.

Recall, the Central Bank on July 22 decided to reduce the key rate from 9.5% to 8%. At the same time, the regulator lowered its inflation forecast for 2022 to 12-15% from 14-17%, leaving the forecast of 5-7% for 2023 and 4% for 2024 unchanged.

As Interfax explains, since August, when calculating weekly inflation, Rosstat returned to registering consumer prices on Mondays, and not on Fridays, so this time the price dynamics was measured immediately for 10 days. From January to August 2022, the agency calculated weekly inflation by registering prices on Fridays (until 2022, this happened on Mondays). At that time, Rosstat explained the transition by the fact that price registration on Friday “will allow taking into account prices at food markets that are closed on Monday, as well as weekend fairs that start work on Friday.” The decision to return from August to price registration on Monday “takes into account the diversity of regional characteristics and the specifics of the work of trade organizations and service enterprises,” the agency reports.

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