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USD 71.23 ↓

EUR 82.72 ↑

16 October, Saturday

Ufa   °

Annual inflation was 6.94% in Bashkiria in August

Economy/Business

This is higher than the indicators of the Volga Federal District and in Russia as a whole (6.86% and 6.68%, respectively), the National Bank RB reports.

Food and non-food products rose in price mainly due to a lack of supply and rising costs of producers. In August, the annual growth rate of food prices rose to 8.05% after 7.77% a month earlier. In addition to these reasons, the drought had an additional impact on the increase in prices.

In the service sector, annual inflation slowed to 3.9% after 4.2% a month earlier. The main reasons were the expansion of supply and increased competition in certain segments. The most significant contribution was made by foreign tourism and some personal services, affected by the high base of the last year when the prices for these services rose noticeably amid the recovery in demand.

In the IV quarter, analysts from the Central Bank predict a slowdown in inflation, including due to the impact of the key rate hikes.

/translated by Tatiana Aksyutina
Tags: inflation
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