Inflation and changes in food prices in Russia in January 2024

According to the latest data from Rosstat, inflation in Russia from January 16 to January 22, 2024 amounted to .07%, which is lower than the level of the previous week, when it was .13%. However, annual inflation as of January 22, calculated on the basis of average daily data for this and last year on similar dates, is estimated at 7.37%.

According to statistics, over the past week there has been an increase in prices for some products. White cabbage rose in price by 2.8%, carrots by 1.9%, bananas by 1.7%, beets by 1.5%, onions by 1.1%, cucumbers and apples by 1%. Prices for butter and black tea also increased by .5%, and for lamb, cottage cheese, table salt - by .4%. Frozen fish, sunflower oil and vodka rose in price by .3%, and beef, sausage, milk, powdered infant formula, cookies, wheat flour, bread and pasta by .2%. Sausages, sausages, sour cream, vermicelli, rice and potatoes also became more expensive by .1%. At the same time, prices for chicken eggs decreased by 1.4%, chicken meat fell in price by .8%, tomatoes by .4%, pork by .3%, and sugar and buckwheat by .2%. Prices for hard, semi-hard and soft cheeses also decreased by .1%.

In addition, Rosstat reported that in 2023, food producers (excluding beverages) in Russia increased prices by 2% compared to the previous year. In December, prices fell by .1% compared to November, which was the first drop since January 2023. Manufacturers' production costs decreased from June 2022 to January 2023, and then they began to increase. The annual price increase in December was 9.2%.