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Annual inflation in Russia slows slowed down to 17.69% on May 7-13

Russia Materials 19 May 2022 08:02
Annual inflation in Russia slows slowed down to 17.69% on May 7-13

Inflation in Russia from May 7 to May 13 slowed down to 17.69% in annual terms against 17.77% a week earlier, the Ministry of Economic Development reported, Trend reports citing TASS.

"A slowdown in annual inflation has been recorded for the first time since February 11, 2022," the ministry said.

According to the ministry, the slowdown in the growth of prices for food items (0.15%) due to the decrease in prices for fruits and vegetables continues to have a main restraining effect on inflation. In addition, the Ministry of Economic Development noted a slight decrease in prices for non-food products (-0.01%), while the price of gasoline fuel continues to decline for the tenth consecutive week.

According to the forecast for the socio-economic development of Russia until 2025, by the end of 2022, inflation will grow by 17.6% in the baseline forecast.

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