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29 October, Thursday

Ufa   °

Inflation accelerated to 3.8% after quarantine slowdown in Bashkiria

Economy/Business

In Bashkiria, after three months of slowdown, inflation slightly accelerated. According to the National Bank of the Republic of Bashkortostan, in August, the index was 3.8% (in the RF — 3.6%).

Food inflation rose 4.3% in August (4.1% in July). Most of the most popular vegetables have risen in price — potatoes, cucumbers, tomatoes, carrots. Due to complex logistics, the price of oranges has increased significantly. High demand doubled buckwheat prices. The rise in the price of raw materials and production costs have led to a rise in the bread and flour products, dairy products price. The good grain harvest this summer makes it possible to predict the restrained dynamics of bread prices, experts say.

The annual increase in prices for non-food products amounted to 2.9% after 2.5% in July. Key factors: a weakening of the ruble, recovery in consumer demand. Most of all, goods with a high import component rose in price: cars, individual electrical goods, tools and equipment, household appliances.

The growth of prices for medicines continued. "This can be explained by the complicated logistics and the increased cost of imports — imported components are needed for the production of many drugs. At the same time, China and India, due to anti-epidemic restrictions and fears of internal shortages, temporarily introduced a ban on the export of many medicinal substances," analysts of the National Bank reported. "Further growth in prices in the non-food sector will depend on buying activity and changes in the rates of major currencies."

Inflation in the service sector accelerated to 4.1% in August after 3.4% in July. Passenger transport services, both urban and air, made a significant contribution to the indicator. Transport companies attribute the rise in prices to the increase in fuel prices amid a decrease in passenger traffic. At the same time, the regional authorities have kept the same bus fare of the state carrier using the Alga card.

Besides, inflation in the service sector was influenced by the indexation of gas tariffs for the population. Analysts note that the sphere of culture did not participate in the inflationary dynamics — theaters and cinemas did not work in August.

"As in the country as a whole, there is an increase in purchasing activity, the effect of deferred demand on previously unrealized services," Marat Kashapov, Governor of the National Bank RB, commented on the issue.

/translated by Tatiana Aksyutina
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