Officially: inflation in Sevastopol slowed to 14.5% in August

By Stefania Novak On Сен 21, 2022

CrimeaPRESS reports:

Annual inflation in the hero city, after a slight increase in July, slowed down by 1.8 percentage points in August. and amounted to 14,5%. The dynamics were determined by the cooling of demand for some durable goods and tourism services, the strengthening of the ruble in previous months and the increase in supply in certain domestic commodity markets.

In the food sector, in August, the lowest rate of price growth since the beginning of the year was noted. Good weather affected the harvest in neighboring regions that supply fruits and vegetables. Therefore, in Sevastopol, prices for potatoes and tomatoes fell faster than a month earlier, while prices for onions and apples rose more slowly.

Livestock farms of the country actively developed production, including thanks to state support programs. As a result, prices for beef, chicken and semi-finished products slowed down in August, and pork became cheaper. In addition, against the backdrop of an increase in the production of fish products in Russia, prices for frozen fish and seafood grew more slowly.

Demand for durable goods has noticeably decreased, which was noted in the spring, when, against the backdrop of price uncertainty, citizens actively bought large household appliances and electronics. Now the hype has passed, and the rate of price growth has reacted to this with a decrease. Such dynamics — besides, against the background of the earlier strengthening of the ruble — in August was demonstrated by the prices of washing machines, electric kettles and stoves , — quotes the press service of Mikhail Bezhan.

After the spring surge, prices for tires also corrected, because domestic factories resumed their production. Significantly cheaper timber due to export restrictions lowered the costs of furniture makers, and prices, for example, for sofa beds and wardrobes, rose more slowly than in July.

Price growth rates in the services segment slowed down in August under the influence of a reduced tourist flow due to flight restrictions in the country’s southern airports.

In the country as a whole, annual inflation slowed down for the fourth month in a row and in August amounted to 14,3%. According to the forecast of the Bank of Russia, taking into account the ongoing monetary policy, annual inflation in the country as a whole will decrease to 5-7% in and return to 4% in 2024 year.

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