Inflation in Russia slows to 0.04% in week, annual figure down to 9.04%

MOSCOW. Aug 21 (Interfax) - Russia had 0.04% consumer price inflation for the week August 13-19, the State Statistics Service (Rosstat) said.

Inflation was 0.05% in the week August 6-12 and 0.00% for the week July 30-August 5.

Prices rose 5.15% since the beginning of the year and 0.09% in the first 19 days of August.

It follows from data for the first 19 days of August this year and last that annual inflation in Russia was 9.04% as of August 19, down from 9.10% on August 12 and 9.13% at the end of July, based on weekly data - the Central Bank advocates this method to measure inflation. Annual inflation slowed to 9.04% on August 19 from 9.07% on August 12 based on average daily data for the whole of August 2023 - the Economic Development Ministry calculates annual inflation this way.

Fruit and vegetables fell 1.4% in price last week, after falling 0.9% the previous week, with drops for beetroot - 3.8%, carrots - 2.8%, potatoes - 2.6%, bananas - 2.0%, apples - 1.8%, tomatoes - 1.5% and onions - 0.7%, however cucumbers went up 2.1% in price.

Prices rose for butter - 0.8%, rye bread - 0.7%, pork, wheat flour - 0.5% and pasteurized milk and vermicelli - 0.4% but fell for mutton - 0.3% and chicken meat - 0.2%.

Prices rose for local brands of passenger cars - 1.3%.

Gasoline and diesel went up 0.3% and 0.1%, respectively after rising 0.3% and 0.1% the previous week also.

Economy class air fares fell 1.3% in the past week after rising 0.2% the previous week.

The Russian Economic Development Ministry said in a price review that it estimated annual inflation at 9.04% as of August 19.

The ministry said consumer price inflation slowed to 0.04% in the week August 13-19. Food prices were unchanged after inching up 0.03% the previous week with deflation for fruit and veg accelerating to 1.42% but other foods rising 0.12% in price, compared with 0.11% growth the previous week. Price growth for nonfood goods quickened to 0.14% from 0.09%. Service charges fell 0.07% after rising 0.04% the previous week as domestic airfares went down 1.27%.