Inflation accelerated by 0.7% per month in Bashkiria

In August, inflation in Bashkiria accelerated by 0.7% month-on-month and by 8.8% year-on-year. Experts from the National Bank of the Republic of Bashkiria explain that the seasonal reduction in the price of vegetables was not as noticeable as last year. Due to the cold and rainy summer, the yield decreased, so there were fewer local vegetables on the market than usual in August.

As a result, potatoes, carrots, and cabbage, which were usually cheaper then, became more expensive. Also, producers and suppliers continued to transfer increased costs to the final cost of goods. As a result, prices for cucumbers, dairy products, and bakery products accelerated.

Prices for non-food products slowed down (by 0.7% compared to July, growth compared to the year—5.6%). For example, a year ago, the cost of foreign cars was actively growing due to the weakening of the ruble and increased demand. This August, demand stabilized, and there was no significant increase in prices.

Inflation in the services sector accelerated slightly (by 0.8% over the month to 12% annual growth). This is mainly due to increased demand for foreign tourist trips.

The National Bank notes that Bashkortostan's overall price growth is still lower than the average for the Volga Federal District (8.86%) and the country (9.05%).

Author: Elina Akhmetova