Russia’s annual inflation slowing down to 15.3%

Annual inflation in Russia geared down to 15.3% from July 16 to 22, compared to 15.39% a week earlier, the Ministry of Economic Development says in its price review.

"The price drop continued over the week from July 16 to 22, 2022 and totaled -0.08%. In annual terms, the price growth rates decelerated to 15.3%," the Ministry said.

The food segment continues providing the basic contribution to declining prices (down 0.43% as of the end of week) owing to deflation for fruits and vegetables along with other foodstuffs. The price drop in the nonfood segment actually halted and was 0.01%. At the same time, prices had an uptick by 0.41% in the segment of regulated and tourist prices, largely due to the rise in airfare prices, the Ministry added.