Central Bank Reports Annual Inflation Decline to 6.6% in November

© изображение сгенерировано ИИ

Inflationary processes in the Russian economy are showing a pronounced slowdown, as confirmed by November data published by the Bank of Russia. Annual inflation fell to 6.6% (from 7.7% in October), while the key monthly indicator (excluding seasonality, annualized) dropped to 2.2%.

Analysis of price dynamics indicates that the slowdown is becoming widespread. Annual price growth rates for services and key food products, including dairy and fish, have significantly decreased. Vegetables and fruits, unlike last year, became cheaper by 2.0% in November. The growth in prices for non-food goods continues to slow down.

Particularly significant was the reduced contribution of volatile components. After a sharp increase in previous months, gasoline prices fell. The growth in the cost of vegetables, fruits, and eggs in November was below usual seasonal values, and sugar continued to become cheaper.

Despite the encouraging trend, the regulator remains cautious. Indicators of sustainable inflation, although they decreased in November, still exceed 4% on average over the three months (September-November) for most categories. This indicates ongoing inflationary pressure in the economy.