The rise in prices in Russia is caused by volatility after the crisis and trends for the president of the market, said press secretary Dmitry Peskov, his words leads Interfax.
“Russia cannot live in a closed circuit. Russia is a participant in international economic life, trends in international markets in general, some post-crisis volatility, and so on. Sands. He assured that the authorities manage to “significantly amortize this process”, but “not a single country” can completely exclude it.
The Ministry of Economic Development has raised the inflation forecast for this year, said the head of the department, Maxim Reshetnikov, on October 12. Now the ministry expects prices to rise by 7.4%, although in September it was estimated “at least 5.8%”. The forecast was revised due to the accelerated rise in food prices. In particular, in September, prices for fruits and vegetables increased by 1.8% versus August due to a lag in the pace of harvesting, although in 2017-2020 there was an average decline of 6.5%. Reshetnikov admitted that prices could be influenced by the European gas crisis, where fuel prices have grown strongly relative to the autumn values of previous years. Annual inflation in Russia is now “near its peak” at about 7.5%.
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According to Rosstat, in September, annual inflation in Russia broke a five-year record – the consumer price index in Russia was 7.4%. The Ministry of Economic Development then noted that, in addition to vegetables and vegetables, the growth in prices for meat, milk, eggs, cereals and legumes, as well as for pasta, accelerated. Food prices in September rose by 9.21% compared to September 2020, Rosstat reported. The Bank of Russia has not yet updated its July inflation forecast – it is 5.7-6.2%.