Banks and mobile operators restrained inflation in service sector in Bashkiria

IMPORT Сервисный

In Bashkiria in February, inflation in the service sector decreased by 0.2 percentage points and amounted to 2.7%. The slowdown was primarily due to the tariff policy of mobile operators and banks. In the struggle for customers, mobile operators are cutting the cost of service packages. Over the year, the monthly subscription fee has decreased by almost 3%.

Banks continue to reduce the cost of servicing consumer loans for borrowers. Interest rates on consumer loans have been at historic lows since mid-2020, analysts say. However, the introduction of digital services allows banks to optimize costs and proactively offer promotional products.

Besides, visits to cinemas, swimming pools, and certain medical services, particularly massage therapists and dentists, continued to fall in price against the background of insufficient demand in the republic. At the same time, the increased activity of consumers accelerated the growth rate of prices for some household services (manicure, repair of shoes, and clothes) and air tickets.

In general, the annual inflation in Bashkiria in February was 5.4%, in the Volga Federal District - 5.9%, in the Russian Federation - 5.7%.

#inflation #services

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