Annual inflation in the Russian Federation from November 20 to 27 increased from 7.37% to 7.53%, and at the end of October it was 6.69%, Rosstat reported in a message on November 29, the service reports department press release.
Weekly inflation in the Russian Federation from November 21 to 27 reached 0.33%, and a week earlier it was 0.20%, according to the report. Rosstat specialists note that the acceleration of inflation can be explained by a sharp increase in prices for airline tickets in economy class, the price of which increased by 12.5% in a week.
At the moment, annual inflation has exceeded the upper limit of the Central Bank’s forecast for 2023 (7.0–7.5%). However, according to the department, at the beginning of December 2023 an acceleration in inflation, like last year (an increase of 0.5% due to indexation of housing and communal services rates), is not expected. The next rate indexation will be from July 1, 2024. Therefore, inflation is expected to slow down in the first half of December.
Recall that in October 2023, the Central Bank of the Russian Federation increased the key interest rate to 15%, which almost paralyzed the industry in the country. In addition, the increase in prices of all goods was facilitated by the increase in the cost of gasoline, so the government limited the possibility of selling fuel abroad.
It was previously reported that since the beginning of the year the price of eggs has increased by 30.9%, surpassing in terms of growth dynamics chicken meat, whose prices increased by 30.2%.
Source: Rossa Primavera
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