More than half of Russian regions record slower price growth in May
In May, 47 out of 85 Russian regions saw prices grow more slowly than in April or decline. In the remaining regions, prices were mostly rising at a moderate rate.
Food products became cheaper in 76 regions. Fruit and vegetable prices were decreasing faster compared to the seasonal norm. Prices for eggs and dairy butter continued falling. Non-food goods, except for petrol, were increasing in price at a moderate pace, with many of them becoming cheaper.
The growth rates of prices and demand for services remained high. The main contributors to these dynamics were personal and medical services and – in the run-up to the holiday season – trips to health resorts and train tickets.
Annual inflation slowed down in most regions in May. The Bank of Russia will continue to pursue tight monetary policy aimed at bringing inflation down to 4%.
More details on inflation in each region are available in information and analytical materials.