November inflation accelerated by 0.7% compared to October in Bashkiria

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In November, annual inflation in Bashkiria increased to 4.6% against 3.9% in October. The growth was mainly due to factors characteristic of the entire country. Among them are the lack of certain food products and the growth of producers' costs due to the weakening of the ruble, analysts from the National Bank of Bashkiria explain.

Food products showed the most growth in the price - by an average of 6.3%. Sunflower oil has become more expensive due to poor sunflower harvest in the southern regions of the country. As for sugar, last year there was an overproduction of the product, so this year the farmers have reduced the area under sugar beet.

"Substantial sugar stocks contributed to a long decline in prices last year, and now its value has returned to normal levels and is considered economically sound. It is also worth considering that the share of sugar and sunflower oil in the consumer basket does not exceed half a percent," the Governor of the National Bank Marat Kashapov said.

The average cost of non-food items rose to 4%. Goods with a high import component continued to rise in price amid the ruble weakening: foreign cars, household appliances, and electronics.

The export of chipboard increased for the same reason, and there was a shortage of them in the country, which led to an increase in the cost of frame furniture made from it. The rise in prices for building materials is explained, first of all, by the increased demand.

The increase in prices for services remained at the level of 3%. This was a consequence of the multidirectional trends of prices for several basic services, experts explain. For example, the increased demand for local rest has led to an increase in the cost of trips to holiday homes in Bashkiria. The deferred demand for non-urgent medical treatment increased the cost of ultrasound and dental services.

On the other hand, due to limited demand, the cost of several household services has decreased - tire fitting, car washes, ateliers, dry cleaners. Due to restrictive measures, foreign tourism and cultural and sports institutions' services do not rise in price.

Annual inflation was above the national average (4.4%) in Bashkiria but below the average for the Volga Federal District (4.8%).

#inflation #increase

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