Price growth speeds up in most Russian regions in June
In June, 80 Russian regions recorded a faster rise in prices than in May, which was largely caused by one-off factors.
Food prices increased in most Russian regions in June, predominantly driven by higher fruit and vegetable prices. The latter adjusted upwards in June after a sharper-than-usual decline over April–May.
Non-food prices were mostly pushed up by more expensive petrol and diesel fuel amid a decrease in production and temporary supply disruptions. Excluding petroleum products, non-food prices dropped on average in nearly 40 Russian regions.
The increase in service prices slowed down in more than half of the Russian regions compared to May, with some regions even recording lower prices on average. This was mostly explained by more moderate demand for domestic tourism. However, the growth rate of service prices remains rather high overall.
The Bank of Russia will continue to pursue its monetary policy so as to achieve sustainably low inflation in all Russian regions.
More details on inflation in each Russian region are available in information and analytical materials.