Food prices rose in May due to cold weather in Bashkiria

The National Bank of the Republic reported that in May, annual inflation in Bashkiria increased to 7.9% after 7.7% in April. This is less than in Russia (8.3%) and the Volga Federal District (8.1%).

Food prices increased by 8.6% compared to May 2023. The main contribution was fruit and vegetable products (+14.8%). Due to the atypically cold May, the costs of heating greenhouses were higher, and accordingly, greenhouse vegetables were noticeably more expensive. Potatoes also increased in price in May—their reserves ran out, and Egyptian imports decreased this year.

Inflation in the non-food products sector remained at 7.3%. Clothes became more expensive (manufacturers transferred the growing costs of purchasing fabrics, logistics, and labor into prices), and smartphones became cheaper (this is due to high competition and the strengthening of the ruble).

Price growth in the service sector slowed slightly - to 7.72% (-0.05%). The expansion of flight programs abroad led to a slowdown in prices for tours to Egypt and Central Asia, and trips to Southeast Asian countries even became cheaper. At the same time, air tickets have become more expensive due to the increased demand for flights within the country, explained experts from the National Bank of Bashkiria.

Author: Elina Akhmetova