The Ministry of Economic Development reports a decrease in the pace of supply. On an annualized basis, the Rate of Decline decreased from 6.4% (April 30 to May 6) to 2.8% during the week. As noted in the department, such a slowdown occurred with the approach of February. According to the forecast for 2022, inflation will be 17.6%.
Food prices went up the least during the week (0.15%) due to vegetables. There has been a high price for non-food products: – 0.01% during the week. And yet, for the tenth week in a row, gasoline has become cheaper in Russia.
According to the head of the macro-department of economic analysis of FG “Finam” Olga Belenkayathe slowdown since April is much faster than the market expected.
“If at the beginning of March weekly inflation exceeded 2%, then from April 9 to April 29 it fluctuated around 0.2%, in the first week of May it slowed down to 0.12%. And here are the latest data from Rosstat: inflation in the Russian Federation from May 7 to 13 was reduced to 0.05%, in annual terms, for the first time since February, it decreased from 17.83% to 17.69%, ”Izvestia quotes the expert.
Analyst – a rapid decline in the level of multiple factors. In the food segment, prices for fruits and vegetables, chicken meat, eggs and sugar are falling. Prior to this, fruit and vegetable prices most actively increased since the beginning of the year and over the past 12 months. Prices for the main vegetables of the “borscht set” (potatoes, white cabbage, carrots, beets, onions) increased by 34-78% over 12 months, only cucumbers fell in price by almost 12% over the year.
In general, food inflation slowed to 0.15% per week, according to the Ministry of Economic Development, against an average of 0.72% in the past. In annual terms, according to the same data, food inflation reached 20.3%.
“After cooling the rush consumption for stocks of long-term storage products and replenishing their stocks in stores, the price dynamics has stabilized,” the analyst states.
In the non-food segment, the slowdown in the growth of the dependence of the stable ruble exchange rate by almost 40% on the average limit for March (this is noticeable on the cost of imported products), as well as the cooling of consumption consumption after the hype of late February and early March, is of significant importance.