Price growth slowed down in October in Bashkiria

In Bashkiria, inflation slowed by 0.25% in October compared to September. The expansion of the food market facilitated this.

"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 continued to decrease, the main supplies of which occurred in later months than usual," explained analysts from the National Bank of the Republic of Belarus.

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.

A decrease in consumer activity in the housing market led to decreased demand for goods for furnishing apartments. As a result, furniture prices did not rise as much as a year earlier, and washing machines became cheaper. However, due to the reduced credit activity and the fall in the share of mortgages, rent has become more expensive, especially for small apartments.

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

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

Author: Elina Akhmetova