The comprehensive report highlights that the growth in consumer prices has decelerated to a mere 0.03 percent over the last week. This slowdown in inflationary pressure has been primarily attributed to the prices of non-food products. Notably, the report indicates that the growth rate of these non-food items has tapered off, owing to the deceleration in the escalation of prices for automobiles and electrical appliances.
Experts from the ministry emphasize that this recent fluctuation in inflation is largely influenced by the dynamics of the non-food sector. The moderation in the increase of prices for vehicles and electronic goods has played a pivotal role in curbing the overall inflationary momentum.
Looking ahead, the Central Bank of Russia has projected a continued uptrend in the country's annual inflation over the forthcoming months. The bank's forecast indicates that by the end of the year, inflation is anticipated to range between 5 percent and 6.5 percent. This forecast underscores the need for continued vigilance in monetary policy and economic management to mitigate potential inflationary pressures.
As the nation navigates these inflationary dynamics, policymakers and economists will be closely monitoring the evolving situation to ensure a stable economic environment for both consumers and businesses. (ILKHA)