Price growth decelerates in most regions in July, but remains fast
In July, almost two-thirds of the Russian regions saw prices rise more slowly than in June. This was largely associated with seasonal patterns in product prices and one-off factors in services. The situation in the fuel market was affecting price dynamics unevenly across regions.
Fruit and vegetable prices experienced a seasonal decline, although it was weaker than is typical of this month. Prices for sugar and meat products increased notably, whereas dairy products, butter, and cheese cheapened.
Domestic tourism services (health resorts, hotels, trips, and excursions) saw prices fall, which is unusual for summer. At the same time, the growth rate of prices for medical and personal services remained high due to the tight labour market.
Amid disruptions in petroleum product supplies, prices for petrol and diesel fuel continued rising at a high rate. By contrast, clothing and footwear became cheaper.
The Bank of Russia’s monetary policy aims to achieve sustainably low inflation in all Russian regions.
More details on inflation in each region are available in information and analytical materials.