Annual inflation in Russia geared down to 11.57% from January 10 to 16, 2023, the Ministry of Economic Development says in its price review.
Inflation stood at 11.65% from January 1 to 9, the Ministry noted.
"Inflation slowed down to 0.15% over the week from January 10 to 16, 2023 (7 days) after the increase by 0.24% within the period from January 1 to 9 (9 days). The average daily price growth also slowed down to 0.021% after the increase by 0.027%. In annual terms, inflation continued going down (to 11.57% on an annualized basis)," the Ministry said.
"Food inflation rates declined during the reporting week on account of price growth slowing down for fruits and vegetables and the near-zero rise in prices for other foods. Prices in the services sector declined due to deflation on tourist services and slower price growth for regulated services. In the nonfood sector, the rise in price resumed due to the upsurge in prices for electric and domestic appliances," the Ministry informs.
