Deflation recorded in Russia for the first time since September 2020

The consumer price index in Russia decreased by 0.01% for the week from 13 to 19 July 2021, follows from the data of Rosstat. The weekly deflation was recorded for the first time since September 2020. The representative of Rosstat explained that the trend reversed primarily due to the accelerated decline in food prices, which occupy a significant share in the structure of consumer spending. In particular, vegetables and fruits fell by 2.1% on average across the country, the service representative said (a 1.3% decline was recorded a week earlier).

Food prices have been declining for the third week in a row – by 0.1% for the segment as a whole weekly. In annual terms, inflation also continued to slow down (to 6.5% after 6.56% on July 12), follows from a message released by the press service of the Ministry of Economic Development.



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