By John Meyer, financial consultant – Eurasia Business News, February 11, 2022
Annual inflation in Russia accelerated to 8.73% in January 2022 from 8.39% in December 2021. On a monthly basis, consumer prices rose by 0.99%, reported Rosstat, the Russian federal statistic agency, on February 9.
Food products prices in January rose by 1.44% compared to December and by 10% in annual terms, non-food products prices increased by 0.67% and 8.73%, respectively. The cost of services in January increased by 0.76% in monthly terms and by 5.38% in annual terms.
Foodstuffs
In October 2021, there was an increase in prices for white cabbage – by 15%, cucumbers – 13.3%, tomatoes – 12.7%, grapes – 12.4%, garlic – 11.6%, pears – 9.1%, bananas – 9%, carrots – 7.2%. At the same time, prices for oranges and lemons decreased by 4.4% and 1.9%, respectively.
Medicines and non-food products
Vital and essential drugs prices (VED) did not change on average in January 2022. At the same time, prices for acetylsalicylic acid (domestic aspirin) increased by 1.3%, ambroxol – by 0.9%, phosphogliv – by 0.6%, pancreatin, drotaverine (no-shpa), omeprazole, hydrogen peroxide, amlodipine – by 0.2-0.4%. Prices for enalapril decreased by 2.2%, acetylcysteine (ACC) – by 1.1%, ceftriaxone – by 0.7%, vinpocetine – by 0.6%, influenzaferon, bisacodyl, umifenovir ( arbidol), oseltamivir (nomides), eufillin and xarelto prices decreased by 0.2 – 0.4%.
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Prices also increased for toilet soap – 1.6%, laundry soap – by 1.5%, toilet paper – by 1.3%, matches, wet wipes – by 1.2%, diapers for newborns – by 0.9%. , paper table napkins, sanitary pads – by 0.8%, toothpastes and brushes – by 0.7%, baby diapers – by 0.5%, washing powders, disinfectants for surfaces, dry pet food – by 0 ,4%. At the same time, prices for sanitary and hygienic masks decreased by 0.3%.
In addition, prices for diesel fuel increased by 1.7%, motor gasoline – by 0.9%. At the same time, prices for gas motor fuel decreased by 3.8%.
Service prices
In January 2022, tourism services prices increased. Thus, the cost of vacation trips to Egypt from Russia rose by 17.1%, to Turkey – by 6.7%, to the United Arab Emirates – by 2.6% and Greece – by 1.7%. Booking holiday homes became more expensive and boarding houses and sanatoriums prices also rose in Russia – by 1.7% and 1.6%, respectively. The cost of tickets to museums and exhibitions increased by 1.2%, accommodation in 2-star hotels – by 0.5%. At the same time, the cost of accommodation in 1 star hotels and motels decreased by 0.2%.
In the group of passenger transport services, prices for various types of long-distance train cars decreased by 9.4-18%, economy class air travel – by 8.4%, taxi fares – by 0.2%. At the same time, fares for metro travel increased by 8.3%, trams – by 8%, city buses – by 5.1%, trolleybuses – by 4.6%, suburban trains – by 3.2%, fixed-route taxis – by 2.9%, intercity bus – by 2.8%, combined ticket for travel in urban passenger transport – by 1.9%, car rental – by 0.8%.
Of the other observed services, the following rose in price: the annual cost of the policy of compulsory third party liability insurance of vehicle owners (OSAGO) – by 4.5%, the rent of an individual bank safe – by 4%, forwarding a simple letter within Russia – by 3.7%, the annual cost of the policy voluntary car insurance against standard risks (CASCO) – by 2.4%, visits to a nursery – by 2.3%, installation of plastic windows, a subscription fee for a radio broadcasting point, an initial consultative appointment with a specialist doctor, services of an organizer of celebrations and individual types of funeral services – by 1.5-1.9%.
Prices for building materials increased by an average of 0.5%, including red brick – by 1.6%, laminate – by 1.5%, linoleum – by 1.2%, sheet window glass – by 0.8 %. At the same time, prices for chipboard, oriented strand board decreased by 0.7%.
On January 14, the Russian Federal Minister of Finance Anton Siluanov said that the peak of inflation, which at the end of 2021 amounted to 8.39%, had been passed in Russia.
As of February 4, annual inflation was 8.8%, reported the Russian central bank.
The current annual inflation of 8.73% is a record since February 2016.
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