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News ServiceForexMarket AnalysisProducts and Services
25/06/2014
15:03
Inflation in Russia projected at 0.5-0.6% in June

The inflation rate in Russia June will reach 0.5-0.6% in June 2014, 4.7-4.8% since the start of the year, 7.7-7.8% for the 12-month period, according to the Ministry of Economic Development of the Russian Federation.

In the segment of food products, the price growth has slowed down in June as fruits and vegetables cheapened. In particular, the prices increased by 0.5% over the period from May 27 to June 16, by 7.4% since the start of the year, 2.2 percentage points above last year's level (5.2%).

After the soaring prices early in the year, fruits and vegetables started to cheapen earlier than usual. In particular, the prices decreased by 1.1% over the period from May 27 to June 16, by 0.9% last week alone. Since the start of the year, fruits and vegetables went up in price by 21.4% (+27.7% the year before). As of June 16, they advanced in price by 3.8% year-on-year.

At the same time, potatoes continued to increase in price in June (+9.4% for three weeks of June). Last week, the price growth slowed down to 1.7% from 3.3-4.1% the preceding weeks. Since the start of the year, potatoes have become 69.8% more expensive. For the 12-month period ending on June 16, the prices increased by 23.7%.

Vegetables excluding cucumbers and tomatoes dropped in price by 2.2% for three weeks of June. The prices in this segment went up 22.6% from January 1 to June 16, decreased by 0.4% for the 12-month period ending on June 16.

In the segment of food products excluding fruits and vegetables, the prices increased by 0.7% for three weeks of June, equal to the growth rate for the same period in May. Over the period from May 27 to June 16, the prices increased by 4.1% (against 4% for the whole month of May). Since the start of the year, the prices increased by 8.8% (against a 6.3% decrease the year before).

Last week, egg prices were back on the rise, despite the seasonal increase in supply (+0.7% for the week), following a deflation in April and May. The prices decreased by 0.5% for three weeks of June. bz 23.1% from January 1 to June 16, increased by 11.6% for the 12-month period.

Pork advanced in price slower in June than in May (2.1% for three weeks this month, 0.4% last week alone). Since the start of the year, pork soared in price by 17.1% (against a 4.2% price reduction for the same period in 2013) as 4-month pork imports dropped by almost 35% year-on-year.

Beef saw a minor price growth in June (+0.4% for three weeks, no change last week). From January 1 to June 16, the prices increased by 2.6% (against -1.1% the year before).

Sugar prices grew fawster in June in the wake of an upward trend in global markets and a seasonal increase indemand for sugar used for preserves. The prices increased by 2.7% for three weeks of June (+1.5% for the whole month in May), by 0.8% last week, by 16.7% from January 1 to June 16, by 15.4% for the 12-month period.

Bread and bakery products saw a faster price growth resulting from more expensive primary products. White flour bread rose in price by 0.5% for three weeks of June (+0.5% in May). The prices in this segment increased by 2.5% from January 1 to June 16 (+6% for the same period in 2013), by 4.4% for the 12-month period.

Liquid milk saw almost no price change in June (+0.1% for three weeks) resulting from a seasonal increase in crude milk supply. Over the period from January 1 to June 16, the prices increased by 9.1% on average (+1.8% the year before).

Vodka became 15.7% more expensive from January 1 to June 16 (+24.2% the year before), by 0.5% over the period from May 27 to June 16.

Gasoline advanced in price by 0.3% over the period from May 27 to June 16, by 0.1% last week alone. The prices increased by 3.4% since the start of the year (against a 1.2% gtowth the year before), by 8% for the 12-month period.


"AK&M", 23.06.2014 13:57

 

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