Inflation rises in most regions over July
Russia’s annual inflation averaged 9.13% in July (vs 8.59% in June). Price growth sped up in 76 regions, most of all in the North Caucasian Federal District and least of all in the North-Western Federal District. The key factor was the indexation of utility rates that increased more than usual this year. Moreover, the rates were not raised in July 2023. This is why the base of comparison is low.
Growth in prices for most goods and services slowed down. They rose less over the month than in July 2023. Prices for meat products, chicken eggs, cars, electronics, and foreign tourism grew more slowly. Contrastingly, prices for dairy products, petrol, and flights rose faster.
Read more about inflation in each region in the information and analytical materials on the Bank of Russia website.