Annual inflation declines for third consecutive month
In June, annual inflation was down to 9.4%. Monthly price growth (seasonally adjusted) was 4.0% in annualised terms. Price dynamics continued to vary significantly across groups of goods and services.
The monthly growth rate of prices for food products dropped. The most considerable slowdown was observed in prices for meat products, while fruit and vegetables were cheapening at a rate higher than the seasonal norm. The growth of prices for personal and medical services decelerated somewhat, while remaining high. Prices for non-food goods excluding petroleum products did not change on average.
In June, annual inflation was still considerably above the target despite the decline. The Bank of Russia is determined to bring it back to 4.0% in 2026 and maintain it close to this level further on.
More details are available in the new issue of the Bank of Russia’s information and analytical commentary Consumer Price Dynamics.