Inflation goes down in most Russian regions
Goods and services prices decreased in 70 Russian regions in August vs July. In four of them, the decline was even more pronounced than in the previous month. Annual inflation also slowed down in most regions (77).
Over the month, prices for fruit and vegetables, eggs, butter and vegetable oils continued to go down. Non-food goods prices changed diversely. Prices for certain import-dependent items grew under the effect of a weaker ruble, e.g. communications devices, perfumes and cosmetics, clothing and footwear. By contrast, prices for other categories of goods continued to go down, e.g. cars, instruments, and equipment.
Despite the decline, annual inflation in August stayed considerably above the target. The Bank of Russia’s monetary policy is aimed at bringing annual inflation back to 4.0% in 2026 and maintaining it close to this level further on.
More details on inflation in each Russian region are available in the information and analytical materials published on the Bank of Russia website.