CB: prices in Russia have slowed growth due to products

Annual inflation in January slowed down from 3 to 2.4 percent. The Bank of Russia explains the decline in price growth to several factors.

first, expanded the offer of food, and secondly, strengthened the ruble, thirdly, consumer demand was modest, reported in the next issue of information-analytical review of the Bank of Russia “Dynamics of consumer prices”.

In January, the fruits and vegetables fell for the fourth month in a row, including vegetables, fruits and citrus.

a Wide offer of products and agricultural raw materials in the coming months will continue to keep prices down.

It is the products of processing of grain, meat and dairy products, eggs, and sugar.

the Annual food inflation slowed down from 2.6 to 2.0 percent. 0.9 percent decrease in prices for meat and poultry compared with January last year. The eggs fell to 8.6 percent in January and the previous month fell by 5 percent. Continued decline in sugar prices in January the price was almost a third less than in January 2019.

In January, non-food items, by contrast, have risen more than in the previous five months. Almost not increased prices for communications equipment, household appliances, teleradiocomany and personal computers, but has accelerated the growth of prices for cars and oil products due to the increase of utilization fee and excise duty from 1 January 2020.