The results of May: manufactured goods became cheaper in Sevastopol and products became more expensive

CrimeaPRESS reports:

Influenced by rising producer costs and reduced supply in certain food markets, annual inflation in Sevastopol in May 2023 accelerated up to 2.63%.

The depreciation of the ruble, which has occurred since the beginning of the year, has affected the increase in the annual growth rate of prices in the food sector. As a result, it was more profitable for domestic fish producers to sell it on the foreign market, which made the products more expensive. The shift in the seasonality of the ripening of a new crop of vegetables due to the cold spring led to the fact that, in annual terms, potatoes, beets, carrots fell more slowly, and cabbage grew in price. In addition, due to outbreaks of bird flu, certain regions of Russia reduced the supply of poultry meat, so its cost increased in annual terms— noted in the press service of the Sevastopol Branch of the Southern GU of the Bank of Russia.

In the non-food sector, price growth in annual terms continued to decline in May. Due to the fact that the volume of commissioning of new housing has decreased in the region, the demand for related products has also decreased. So in Sevastopol, building materials fell in price and the decline in furniture prices accelerated.

In general, inflation in Russia in May amounted to 2.5%. According to the forecast of the Bank of Russia, taking into account the ongoing monetary policy, annual inflation will be 4.5-6.5% in 2023, return to 4% in 2024 and will be close to this value in the future.

source: press service of the Sevastopol Branch of the Southern Main Directorate of the Bank of Russia

News of the Crimea | CrimeaPRESS