Price growth slowed down in October in Bashkiria

In Bashkiria, inflation slowed by 0.25% in October compared to September: 7.73% against 7.98%. This was facilitated by the expansion of the food market.

"If a year earlier, the growth in livestock breeders' expenses led to a noticeable increase in the price of pork, chicken and eggs, then this October, production volumes increased, and prices increased to a lesser extent, and poultry meat even became cheaper. The cost of tomatoes, the main supplies of which occurred in later months than usual, continued to decrease," explained analysts from the National Bank RB.

The prices of new domestic cars increased slightly and used foreign cars even became cheaper. In October last year, their cost was actively growing due to a significant excess of demand over supply.

The decrease in consumer activity in the housing market led to decreased demand for goods for home improvement. As a result, furniture did not become as expensive as the year before, and washing machines became cheaper. However, due to the reduced credit activity and the fall in the share of mortgages, rent became more expensive, especially for small apartments.

The rate of price growth in the service sector accelerated somewhat. This is mainly due to the increased costs of individual suppliers. And the shortage of personnel led to higher prices for nanny services and seasonal car maintenance.

In general, in Russia and the Volga Federal District, the overall price increase was higher than in the republic: 8.5% and 8.2%, respectively. Annual inflation in the country by the end of 2024 is expected to be in the range of 8–8.5%.

Author: Elina Akhmetova