Price growth is high in August
In August, annual inflation accelerated to 5.2%. Seasonally adjusted monthly price growth rates edged down but remained above 4% in annualised terms. Steady inflationary pressure continued to gradually increase under the impact of growing demand.
Prices for import-dependent goods were rising quite noticeably, including cars, household appliances and electronics. Prices for meat products and petrol surged month-on-month. Nevertheless, the rise in prices for fruit and vegetables slowed down. Some tourism and transport services became cheaper as well. However, the annual increment in their value remained high.
Annual inflation will continue to rise in the coming months. According to the forecast, annual inflation will be
More details are available in the new issue of the Bank of Russia’s information and analytical commentary Consumer Price Dynamics.