The Central Bank recorded a slowdown in the monthly growth of prices for non-food products, excluding oil products, according to the latest report on the dynamics of consumer prices (.pdf). The Central Bank notes this situation with the growth of annual inflation rates.
“Annual inflation has increased to 6.68%, with an increase in the annual growth rate of prices for food and non-food products. Annual and monthly indicators of stable price dynamics also increased slightly. At the same time, the monthly growth in prices for non-food products, excluding oil products, decreased. This may reflect the beginning of a decrease in cost pressures on prices, as well as a more moderate pace of expansion in demand, ”the document says.
According to Rosstat, consumer prices in Russia have increased by 4.69% since December 2020. Accelerating inflation is forcing the Central Bank to tighten monetary policy. Last Friday, September 10, the Central Bank raised its key rate to 6.75%.
More about the regulator’s decision – in the material of “Kommersant” “Central Bank slowed down.”