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Headline inflation in Russia up 0.5% in July, 5.3% since January 1

In July 2014, the inflation rate in Russia was 0.5% (against 0.8% in July 2013). Since the start of the year, consumer prices increased by 5.3% (+4.4%), Russia's Federal State Statistics Service informed.

In particular, consumer food prices decreased by 0.1% in July, increased by 7.6% since January 1; non-food prices advanced by 0.4% (+3.3% since January 1). Paid services to the population went up in price by 0.6% in July, by 4.9% since the start of the year.

To a large extent, the price decline in the segment of food products in July was caused by cheaper fruits and vegetables. In particular, fresh green head cabbage fell in price by 30.1%, fresh cucumbers by 19.5%, potatoes by 18%. At the same time, garlic and apples advanced in price by 3.5% and 0.7%, respectively. Domestic salmon roe became 1% cheaper, hard and soft rennet cheeses dropped in price by 0.7%.

At the same time, July saw an increase in prices of certain kinds of meat and fish products monitored. In particular, cooled and frozen chicken meat increased in price by 4.3%, chicken legs by 2.2%, poultry-based culinary products by 1.9%, beef liver as well as live, chilled and frozen gutted salmon fish by 1.3-1.7%.

Among other food products monitored, millet, dry infant milk mixes, carbonated water, nuts, peppercorn advanced in price by 1.1-1.6%, olive oil, fruit juices, chocolate glazed curd bars, sweetened condensed milk, processed cheeses, canned vegetables, tea, coffee, some kinds of bakery, confectionery and pasta products, ice-cream, grape wines, cognac and beer by 0.7-1%.

Among the non-food products monitored, tobacco products were unrivaled in the price growth rate again in July. In particular, domestic filter-tipped cigarets increased in price by 1.9% in July, by 20.8% since the start of the year.

Gas motor fuel went up in price by 7.6%, AI-92 (AI-93) motor gasoline by 1.6%.

Among the medicines monitored, Validol rose most in price (by 7.5%); Sulfacetamide, Almagel, Valocordin, Oftan Catachrom, Nimesulide, Essentiale Forte N became 1.6-4% more expensive.

Among other non-food products monitored, school writing utensils and stationery, textbooks, learning aids, didactic materials for comprehensive schools, schoolbags and backpacks, some kinds of clothes for schoolchildren and students as well as carpets and wallpapers rose in price by 0.9-1.3%.

At the same time, fresh flowers, mobile phones, tablet computers, smart phones, USB flash drives, electric kettles, motor car tires, solo motorcycles, scooters, children's bicycles, particle boards, certain kinds of footwear for adults decreased in price by 0.2-0.9%.

Tariffs for housing and utility services grew by 2.8% in July. In particular, the state/municipal social housing rent rates saw the biggest growth rate (+8.9%), while hot and cold water supply, water disposal, pipeline gas tariffs grew by 3.8-4.4%.

The increase in prices of railway passenger transport services we noted in June continued in July. In particular, seats in third-class sleepers of standard and named long-distance express trains increased by 9% and 8.9%, respectively.

Recreational trips to Turkey, Spain, sightseeing bus tours of European cities as well as sightseeing bus tours in Russia and vouchers for domestic sanatoria went up in price by 2.2-2.9%. At the same time, the cost of hotel accommodation and a one-minute local mobile call became 1.1% and 0.3% cheaper, respectively

"AK&M", 05.08.2014


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