Inflation in Russia decelerates to 3.51% in March

Annual inflation in Russia declined to 3.51% in March 2023 from 10.99% in February 2023, the Federal Statistics Service (Rosstat) reported on Wednesday, Trend reports citing TASS.

Consumer prices moved up by 0.37% month on month.

Foods prices hiked by 0.13% in March on the monthly basis and by 2.57% in annual terms. Nonfoods prices rose by 0.14% month on month and by 0.12% year on year. Services add 0.97% against the February figure and by 9.73% year on year, the statistical agency says.

Prices surged by 3.6% for hen eggs, 1.3% for frozen undressed fish, sugar and fruit juices, 1.2% for frozen squids, domestic salmon roe and wheat flour, 0.8% for bee honey, champagne and fortified grape wines, 0.7% for black tea, cognac and vodka, and 0.6% for green tea and frozen dressed fish, except salmons. The rise in prices was 0.5% for salami, frozen shrimps, marinated, smoked and salted fish, canned fish, condensed milk, rye bread, marshmallows, cakes, millet, mineral and drinking water.

At the same time, buckwheat prices lost 3.3%. Oatmeal and pearl barley prices edged down by 2%. Prices declined by 1.9% for chilled and frozen chicken, 1.6% for semolina, 1.1% for peas and beans, 1% for beef and pork liver, live and chilled fish, and 0.9% for chocolate sweets.

Source: TREND News Agency