Inflation in Russia accelerated to 3.43%

Inflation in Russia accelerated to 3.43% over the last week from June 27 to July 3, compared to 3.21% in the previous week. These data were released by the Ministry of Economic Development.

According to the Federal State Statistics Service, during the week price increases were recorded for the following products: granulated sugar (+1.1%), chicken meat and chicken eggs (+0.7%).

The prices also increased for the following products: noodles (+0.5%), biscuits, black tea (+0.4%), lamb, flour, rice, canteen and café meals (+0.3%), sausage, sausages, baby food (+0.2%), beef, pork, fish, ice cream, milk, cheese and salt (+0.1%).

Non-food products also saw price increases: TVs (+1.1%), chipboard and oriented strand board (+0.9%), smartphones, men's socks (+0.5%), women's tights (+0.4%), edged boards (+0.3%), shampoos (+0.2%), domestic cars, and filter cigarettes (+0.1%).

These data indicate a continuing upward trend in prices for various goods and services in Russia. Inflationary pressure may have a negative impact on the consumer situation and living standards of the country's population. At the same time, rising inflation may stimulate further revenue growth in some sectors of the economy.