Russia’s annual inflation drops to 12.52%

Russia’s annual inflation drops to 12.52%

Annual inflation in Russia declined to 12.52% as of November 7, the Ministry of Economic Development says in its price review.

"Price growth rates continued going down in annual terms and stood at 12.52% year-on-year as of November 7," the Ministry says.

Annual inflation in Russia geared down to 12.63% in October 2022 against 13.68% in September. Consumer prices had an uptick by 0.18% monthly, according to statistics.

Food prices moved up by 0.28% against September and by 12.08% annually in October 2022. Nonfood prices gained 0.04% monthly and 14.1% against October 2021. Services prices edged up by 0.24% against September and by 16.16% year-on-year in this October.

The increase in consumer prices by 0.3% in more was registered in 47 Russian regions. At the same time, consumer prices declined in nine regions of the country, most notably in Adygeya, by 0.4%.

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