Consumer Prices Slow Down in 72 Russian Regions, Central Bank Reports

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The Central Bank of Russia reported a slowdown in price growth in most regions of the country in April. According to the regulator, inflation was lower than March levels in 72 regions, and in some areas, certain goods even became cheaper.

The most significant price declines were observed in the food segment. Food prices fell in 51 regions. The Central Bank attributes this primarily to seasonal reductions in the cost of greenhouse vegetables, as spring typically brings lower production costs. Additionally, prices for butter and cheese continued to decline.

Non-food items, in general, saw moderate price increases. However, the most substantial price growth persisted in the services sector. The regulator estimates that this is due to consistently high demand for household, medical, and health resort services.

At the same time, international travel became cheaper in April, with costs partially dependent on currency exchange rate dynamics.

The Central Bank also noted that annual inflation slowed down in the vast majority of regions across the country. The regulator emphasized its commitment to maintaining a monetary policy aimed at returning inflation to its target level of 4%.