In Crimea, the increase in the harvest of borscht vegetables reduced inflation in September

In September 2024, in the Republic of Crimea, annual inflation slowed to 7% after 8.1% in August. The main reason is the increase in the supply of certain goods and services in the region. The inflation rate remains below the values ​​for the Southern Federal District and Russia as a whole for the eighth month in a row.

At the beginning of autumn, the annual increase in prices for carrots, potatoes and cabbage slowed down due to an increase in the vegetable harvest in the region. Bananas also fell in price in annual terms, and prices for oranges fell more than in August. This is explained by the effect of a high comparative base: a year ago, due to the accumulated weakening of the ruble, imported fruits and citrus fruits became more expensive, and as a result, their prices then increased more noticeably.

Chicken eggs fell in price year-on-year. A year ago, the costs of livestock farmers increased significantly due to the rise in prices of imported feed additives, equipment, spare parts and fuel, so then product prices rose more than in September of this year. For the same reason, the annual increase in prices for meat products slowed down. In September of this year, their prices remained virtually unchanged compared to August.

The cost of renting apartments in Crimea in September in annual terms increased less than in August. One of the reasons is the expansion of the supply of such real estate in the region, including due to the growth in the volume of housing commissioning. The supply from railway carriers has also increased. As a result, the annual increase in fares on long-distance trains slowed down in September.

According to the Bank of Russia, to reduce inflation to 4%, more restrained demand growth and tight monetary conditions are necessary.

source: Branch for the Republic of Crimea of ​​the Southern Main Directorate of the Central Bank of the Russian Federation