Between June 23 and 29, inflation in Russia slowed to zero after remaining at 0.1% for two weeks, according to Federal Statistics Service (Rosstat). Since the beginning of the year, consumer prices have risen by 2.6%. In the reporting period, prices for chicken meat rose by 0.6%. A rise in prices for chicken meat by 2% or more was noted in 7 regions of Russia, in particular in the Lipetsk and Kirov regions (by 2.7%). In the Tyumen region (except for the autonomous districts that are part of it), price of chicken meat fell 1.4%. Among other foodstuffs, prices for half-smoked sausage increased by 0.4%; prices of canned meat, wheat flour, polished rice, black. Read more...
The Russian Central Bank said on Monday that Inflation in the country in May slowed 0.1 percentage points (pp) compared with April and amounted to 5.1% in annual terms, Delovoi Peterburgreports. The slowdown was due to a decline in the growth rate of non-food product prices, primarily due to the high base effect on the motor fuel market, the regulator said. At the same time, the monthly growth of consumer prices net of seasonal factors in May accelerated by 0.1 percentage points to 0.4%, due to an increase of the rate of rise in food prices. The growth rates of prices for services decreased, non-food products remained at the lowest level since August last. Read more...
This summer’s bad weather is not only putting a downer on the life in the capital, it’s also severely affecting the domestic economy. Farmers have been hit hardest while inflation and unemployment is on the rise. However, fashion retailers are offering big discounts in a bid to sell summer clothes - so there is one upside. This summer in the western part of Russia has been unusually cold and rainy. From May, Moscow witnessed rain, thunderstorms, and even snow. The Russian Hydrometeorological Center called May the “coldest” and June the“second coldest” the country has witnessed in the 21st century. The average temperature in June. Read more...
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