World meat industry news

Consumer price growth accelerated to 0.74% in May after rising 0.5% in April, Rosstat reported. In annual terms, inflation amounted to 8.30% after 7.84% in April. The price increase in May was higher than analysts' forecasts, who expected inflation at 0.53%

Inflation in Russia in May 2024 amounted to 0.74% after 0.50% in April, 0.39% in March, 0.68% in February and 0.86% in January, the Federal State Statistics Service (Rosstat) reported.

In January-May 2024, prices increased by 3.22% (in May 2023, inflation was 0.31%, and in January-May 2023 - 2.38%).

Inflation in May 2024 significantly exceeded analysts' expectations - the consensus forecast of economists surveyed by Interfax for the month was 0.53%, and also turned out to be higher than the weekly dynamics, which suggested growth of around 0.5%.

Annual inflation, according to Rosstat, accelerated in May to 8.30% from 7.84% at the end of April, 7.72% at the end of March, 7.69% at the end of February, 7.44% at the end

The basic consumer price index, excluding changes in prices for individual goods influenced by factors that are administrative and seasonal in nature, amounted to 100.87% in May 2024 (in April 2024 - 100.71%). In annual terms, the core price index increased to 108.64% in May from 108.27% in April.

Food products prices rose by 0.41% in May (in annual comparison, prices rose by 9.11%). At the same time, the price of fruits and vegetables decreased in May by 0.83% (in annual terms - increased by 14.03%).

Non-food products rose in price by 0.46% in May (in annual comparison, prices increased by 7.14%).

Services in May increased in price by an average of 1.53% (in annual terms - increased in price by 8.55%).

In May, prices for cucumbers decreased significantly - by 29.2% and tomatoes - by 18.5%. At the same time, prices for beets increased by 21.8%, carrots - by 21.4%, onions - by 18.3%, cabbage - by 11.0%, apples - by 6.6%.

Among other food products in May, prices for lamb increased significantly - 5.4%, chocolate - 2.4%, olive oil - 2.3%, live and chilled fish, wheat bread, ice cream - 1.8%, pork, bread rye - 1.7%, peas and beans - 1.5%.