Annual inflation accelerates in most regions in August
Annual inflation accelerated mainly on the back of a higher consumer demand. The latter enabled manufacturers and sellers to pass through higher costs, including as a result of the ruble’s depreciation, to prices more quickly.
Annual growth in prices for food and non-food products sped up nearly in all regions. As in July, the significant contributors were import-intensive goods, namely fruit, cars and electronic devices. Petrol prices continued to go up following the rise in global petroleum product prices.
Services prices were growing at a slower pace in August, mainly due to decreases in railway fares and prices for travel to certain countries.
More details on inflation in each Russian region are available in the information and analytical materials published on the Bank of Russia website.