Inflation gaining momentum in most Russian regions

Most Russian regions recorded a faster rise in non-food prices, predominantly due to higher fuel and vehicle prices. Prices for services were also growing more quickly than in the previous month.

Overall, the annual increase in food prices slowed down slightly in November, with the extent of this decline varying across regions. The deceleration was mostly owing to a slower rise in vegetable prices resulting from shifts in seasonality. Usually, greenhouse cucumbers and tomatoes replace outdoor vegetables in November, but this happened as early as October due to the cold weather in 2021.

Countrywide disinflationary factors had the weakest effect on vegetable prices in the Far East, where inflation accelerated most significantly. Inflation in the North Caucasus slowed down. In the Northern Caucasus regions, a slower annual increase in food prices had a more considerable contribution to inflation due to a large portion of food products in the structure of consumer expenses.


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