Annual inflation in January slowed down from 3 to 2.4 percent. The Bank of Russia explains the decline in price growth to several factors: the expanded offer of food, strengthened ruble and modest consumer demand.
In January, the fruits and vegetables price fell for the fourth month in a row, including vegetables, fruits and citrus.
A wide offer of products and agricultural raw materials in the coming months will continue to keep prices down, especially for the products of grain and meat, dairy products, eggs, and sugar.
The annual food inflation slowed down from 2.6 to 2.0 percent. CB mentions the 0.9 percent decrease in prices for meat and poultry compared to January last year. The price of eggs fell by 8.6 percent in January and the previous month fell by 5 percent.
In January, prices of non-food items, by contrast, have risen more than in the previous five months.