The rise in prices in Russia during the month of the war was the highest since 1999. What went up in March?
Prices in March rose by a record 7.6% compared to February. In annual terms, that is, by March 2021, a price increase of 16.7% is the maximum since March 2015. In Russia, during the month of the war in Ukraine, literally everything has risen in price – food, equipment, clothes, shoes, medicines, cars and various services.
Since the day of the attack on Ukraine at the end of February of this year, prices for almost all goods have risen sharply in Russia. This is due to the devaluation of the ruble and the departure of brands from many countries. There was a rush demand for some goods – in the first weeks of the war, the Russians literally swept sugar, cereals, hygiene products and other products from the shelves of stores.
This Friday, Rosstat summed up the results of the first month of full hostilities in the country, before which only limited weekly data were published. Judging by the figures published by the department, in March, prices in Russian stores rose for almost everything. This means that in one month the Russians are much poorer.
Food inflation reaches almost 18% in annual terms at this level, on average, food prices have risen over the year.
The leader in price growth was sugar, which rose in price by 70%. But prices for other products also increased by double digits, for example, for fruits and vegetables, cereals, pasta, meat, bread, etc. Among vegetables, onions, cabbage, bananas, carrots, and tomatoes are rapidly rising in price.
Least of all, prices increased for alcoholic beverages – only 6.7% in annual terms.
Non-food inflation in annual terms turned out to be higher than food inflation – more than 20%. More than 32% more expensive building materials, and about 40% – various equipment. Detergents and cleaning products increased in price by more than 22%.
Among household appliances, washing machines became the leaders in price growth, which rose in price by more than 46%. Next come refrigerators, which have risen in price by 35%, and cookers – by more than 27.5%.
Among computer goods, “flash drives” and monitors increased in price by more than 36%. TVs and laptops have risen in price by more than 20%.
Medicines that do not draw attention to the list of vital tastes and interests rose by more than 15%. And medicines that are useful to this list – by 5%. Almost all medical products have risen in price: devices for measuring blood pressure, bandages, syringes and others.
Of household goods, the prices of women’s pads, diapers and washing powder increased by more than 15%. More than 10% more expensive soap, toilet paper, toothpaste and other goods.
Jumped in the price and foreign trips. Prices for trips to Turkey have increased by 1.7 times, and in Egypt – by more than 47%.
Weekly data that affect Rosstat consumption that at the end of March price increases began to linger. This may be due to the strengthening of the ruble in recent weeks. Raiffeisenbank also writes that the hype, which was observed in early and mid-March, is fading.
“There are not so many real reasons for such a sharp rise in the cost of goods (retail mainly changed the prices of commodity stocks purchased at pre-crisis prices), but they may arise in the future (when, for example, there is a shortage of a number of commodity items, and their price). age according to the objective full),” the bank’s analysts write on their own telegram channel.
True, the bank notes, there is another factor that is likely to slow down price growth – in Russia it strongly requires the availability of affordable resources for the population (the amount that remains on hand after paying all mandatory payments and adjusted for inflation).
So far, there have been no statistics on them, but if this is true, then in fact the rise in prices will prevent the population from getting poorer and having no funds for new goods.