Inflation in 2023 amounted to 7.4% in Russia

Tatyana Aksyutina

According to the Ministry of Economic Development of the Russian Federation, inflation in 2023 compared to 2022 was 7.42% in Russia. Food prices increased by 8.16%, non-food products by 5.96%, and services by 8.33%.

The most significant price increases in December were for chicken eggs (+61%), chicken (+28%), and fruits and vegetables (+24%). Alcohol products increased in price by 2.5% over the year.

At the end of the year, non-food products grew by almost 6% on average. Prices for tobacco products (+7.02%), gasoline (+7.23%), and medicines (+7.9%) increased by more than 7%. Price reductions were recorded only for radio products (-6.2%). In the services segment, foreign tourism (almost +25%) and passenger transportation (+15.7%) increased in price the most.

In Bashkiria, inflation is usually lower than the national average. For example, as Bashinform News Agency reported, in November, the figure in the republic was 6.9%, with 7.2% in the Volga Federal District and 7.5% in the Russian Federation.

Author: Elina Akhmetova

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