MOSCOW, January 12 Inflation in Russia in 2023 amounted to 7.42%, coinciding with the authorities’ expectations; in December, monthly inflation slowed to 0.73% versus 1 .11% in November, Rosstat reported on Friday.
«In December 2023, compared to November 2023, the consumer price index was 100.73%, compared to December 2022 — 107.42%,» the document says. At the end of November, annual inflation was 7.48%.
Food inflation in Russia (including alcoholic beverages) in December in monthly terms amounted to 1.49% after 1.55% in November, in annual terms the increase in food prices amounted to 8.16%. Over the past month, non-food products increased in price by 0.42% (in annual terms an increase of 5.96%). Services added 0.1% by November 2023 (year-on-year growth of 8.33%).
At the end of the year, inflation turned out to be slightly better than the Ministry of Economic Development's expectations of 7.5% and fit into the Central Bank's forecast corridor of 7-7.5%.
This year, the Bank of Russia forecasts price growth rates at 4-4.5%, and the Ministry of Economic Development at 4.5%.