Slowdown in annual inflation recorded in Tatarstan —

Photo: Rinat Nazmetdinov

Annual inflation has slowed in Tatarstan — in July it was 15.23% after 16.2% in June. This is less than in the Volga Federal District in general (15.54%) but higher than in all of Russia (15.1%).

“Primarily, the increased supply of certain products continued to influence price dynamics in the republic,” says the office of the Bank of Russia, the National Bank of Tatarstan.

Annual growth in food prices slowed to 19.02% in July from 19.93% the previous month. Experts associate this with an expansion in the supply of certain vegetables and fruits due to a large number of their foreign suppliers. Thus, the rise in the prices of oranges, bananas, pears as well as sugar and milk slowed down. Grapes, potatoes and cabbage have become cheaper in the republic.

Annual growth in non-food product prices in July fell to 14.64% after 17.04% in June. This has to do with increased supply of certain products and weaker demand after the spring rush. Appreciation for furniture, electronics and appliances as well as cars has slowed.

Annual growth in service prices in Tatarstan accelerated to 11.35% from 10.08% in June. Higher tariffs on utilities, including water supply and heating, have become the main reason for this dynamic. In addition, fewer destinations for outbound travel have also had an impact – prices for holidays in Turkey have increased. Moreover, communication services have also become more expensive.

Recall that annual inflation in Tatarstan was 16.2% in June after 18.01% in May. It turned out to be lower than in the Volga region (16.49%) but higher than in Russia in general (15.9%).

Tatiana Dyomina


Rose D. Jones