Russian Inflation Rate Down to 6-Month Low in June

In June of 2013, Russian annual inflation rate eased to 6.9 percent from 7.4 percent in May due to lower food prices. On the month-over-month basis, inflation rate went up by 0.4 percent, down from 0.7 percent in the previous month.

On a year-over-year basis, food prices increased 6.2 percent, down from 9.2 percent recorded in May. Cost of bread and bakery products rose the most (up by 17 percent), followed by prices of pasta (+ 13.6 percent) and sunflower oil (+10.3 percent). In contrast, cost of sugar declined 1 percent.

Prices of alcoholic beverages and tobacco recorded the highest annual increase (up by 20.1 percent). Cost of transport grew 5.5 percent, housing, water, gas and electricity increased 8.9 percent and prices of clothes and footwear went up by 5.1 percent. 

From May to June, food prices rose 0.4 percent. Cost of hospital services increased 2.8 percent and tobacco prices increased 1.6 percent.

The average cost of a minimum food basket in Russia at the end of June of 2013 amounted to 2970 rubles per month. This represents a monthly increase of 3.2 percent.

 Russian Inflation Rate Down to 6-Month Low in June

Joana Taborda |
7/4/2013 1:45:56 PM