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Inflation in Russia has slowed to a minimum since the beginning of the year – ExpertRU

Inflation in Russia from April 30 to May 6 slowed to 0.12% against 0.21% a week earlier. The slowdown in the growth of food prices, as well as the decline in the cost of automotive fuel, which has been recorded for the ninth week in a row, has a deterrent effect. This follows from the review “On the current price situation” prepared by the Ministry of Economic Development of the Russian Federation.

ā€œIn the week from April 30 to May 6, 2022, inflation slowed to 0.12% from 0.21% a week earlier. In annualized (i.e., annualized) terms, inflation slowed to 6.4% from 11.5% a week earlier, which was the lowest level since January 10, 2022 (+0.1% w/w). The slowdown in the growth of prices for food products (+0.18%) continues to have a restraining effect on inflation due to a decrease in prices for fruits and vegetables, as well as growth in prices for other food products. In addition, the growth in prices for non-food products slowed down (0.08%), while the price of motor gasoline continued to decline for the ninth week in a row. Prices for tourism and regulated services increased by 0.06%,ā€ the Ministry of Economic Development said in a review.

According to Rosstat, from April 30 to May 6, the cost of chicken eggs decreased by 3.5%, sugar – by 1%, fruits and vegetables fell on average by 0.2%, including white cabbage – by 3.9%, cucumbers – by 2.9%, table beets – by 1.3%, tomatoes – by 0.6%. Prices for pork, chicken meat, boiled sausages and vermicelli decreased by 0.1%. The average prices for AI-92 gasoline decreased by two kopecks, to 47.33 rubles per liter, for AI-95 – by one kopeck, to 51.4 rubles per liter, AI-98 also became cheaper by one kopeck – 60, 2 rubles per liter. Almost all observed medicines fell in price by a fraction of a percent.

At the same time, prices for margarine (+2.24%), potatoes (+1.83%), onions (+1.6%), apples (+1.47%) and salt (+1 .26%). Of the non-food products, prices for laundry and toilet soap (+1.71% and 1.85%), shampoo (+1.35%), toothpaste (+1.35%) and matches (+1.71%) went up. Prices increased for dry pet food (+2%), vacuum cleaners (+2%) and for holidays in sanatoriums and boarding houses (+2.35% and 2.51%).

Formerly “Expert” wrotethat the head of the Central Bank, Elvira Nabiullina, made a forecast about the onset of a peak in inflation in Russia. In her opinion, it can be expected at the end of this year. At the same time, the chairman of the Central Bank said that now our country is in a zone of enormous uncertainty. In this regard, both pro-inflationary and disinflationary effects are possible in the future. In addition, she noted that the risks of an inflationary spiral in Russia have decreased against the backdrop of stabilization of inflation expectations and the growth of savings sentiment.

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