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It has decreased, but it is still far from the goal: what was the annual inflation in October in the Russian regions
16:55; 20 November 2024 year
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Annual price growth in the regions remained high in October, but slowed down in 47 of them, especially noticeable in the Orenburg and Irkutsk regions. The slowdown in annual price growth affected services, especially air travel and foreign tourism. Food products such as meat, eggs and vegetables also rose in price more slowly. At the same time, the rise in prices for non-food products accelerated. The Central Bank of the Russian Federation has published analytical data on the inflation rate in October in the regions of the country.
Annual inflation in Russia, according to Rosstat, decreased to 8.54% in October, compared with 8.63% in September. In October, the monthly price growth slowed down, which is mainly due to cheaper tourism and transport services. However, stable inflation indicators, on the contrary, increased, which indicates the continued outstripping of the expansion of domestic demand over the possibilities of increasing the output of goods and services.
To resume the process of disinflation and reduce inflation expectations, tightening monetary conditions is required, which will help curb demand growth. This will create conditions for a steady decline in inflation in 2025.
By the end of 2024, annual inflation is expected in the range of 8.0-8.5%. Taking into account the current monetary policy, according to the forecast of the Bank of Russia, inflation will decrease to 4.5-5.0% in 2025, to 4.0% in 2026 and will remain near 4% in the future. In the Bryansk region in October 2024 decreased to 8.54% (8.72% in September).Inflation in the region has slowed due to lower demand and increased supply of certain types of services. In addition, the dynamics of annual inflation was affected by the statistical effect of a high base for individual services. Annual inflation in the Kaluga Region in October 2024 decreased to 8.31%. This decrease was due to the expansion of the supply of certain goods and services, as well as the statistical effect of a high base for some goods. In the Vladimir Region annual inflation also decreased to 8.35% in October 2024, which corresponded to the all-Russian dynamics. This decrease was caused by an increase in the supply of some non-food products and special offers for certain types of services. An additional factor was the statistical effect of a high base for some non-food products and services. In the Orel region, annual inflation in October 2024 decreased to 8.63% after 8.79% in September. This decrease was due to the expansion of the supply of a number of food products and the statistical effect of the base for some food products and certain types of services. In the border region Kursk region annual inflation accelerated to 8.32% after 7.86% in September 2024.The reasons for such price dynamics in the region were an increase in the costs of food producers and a decrease in the supply of certain non-food products. In the Ural regions, annual inflation was 7.88%. In particular, in the Chelyabinsk region, it fell to 7.46% after 7.73% in September.The slowdown in inflation in the region is mainly due to an increase in the supply of a number of food products and services. In the Tyumen Region (excluding autonomous districts) in October 2024 was 8.22% after 8.06% in September.
