Price growth slows notably in April
Fruit and vegetable prices lowered significantly. Egg prices, after their elevated growth rates in February and March, dropped as well, although to a somewhat lesser extent than normally in April. Foreign tourism services also became cheaper, after a considerable increase in their prices over the previous few months.
Prices for many products, which are more dependent on demand, were either declining or rising at a moderate pace. Smartphones, smartwatches, headsets, TV and radio goods, tools, and equipment became cheaper. Prices for electrical goods and other household appliances continued to trend downwards. Car prices were rising more slowly than in March.
Contrastingly, the price growth rate in services remains high. In April, it notably exceeded 4% in annualised terms. Over the month, food prices dropped on average, while non-food prices were rising at a moderate pace.
The Bank of Russia will implement its monetary policy to achieve sustainably low inflation. More details are available in the new issue of the Bank of Russia’s information and analytical commentary Inflation in Russia.