Annual inflation slows down in Tatarstan

Annual inflation slowed down in Tatarstan — in July, it was 15,23% after 16,2% in June. This is less than in the Volga Federal District in general (15,54%) but higher than across Russia (15,1%).

“Mainly an increased supply of some products continued influencing the price dynamics in the republic,” says the office of the Bank of Russia National Bank of Tatarstan.

The annual growth of prices for foods decelerated to 19,02% in July after 19,93% the previous month. Experts relate this to an expansion of supply of some vegetables and fruits due to a great amount of their suppliers from abroad. So the rise in prices for oranges, bananas, pears as well as sugar and milk became slower. Grapes, potatoes and cabbage became cheaper in the republic.

The annual growth in prices for non-foods in July decreased to 14,64% after 17,04% in June. This has to do with greater supply of some commodities and a lower demand after the stampede in spring. The appreciation of furniture, electronics and household appliances as well as cars decelerated.

The annual growth of prices for services in Tatarstan accelerated to 11,35% after 10,08% in June. Higher tariffs on utility services, including water supply and heating became the main reason for such dynamics. Also, fewer destinations for travels abroad had an impact too — prices for a holiday in Turkey went up. What’s more, communication services also became more expensive.

It should be reminded that annual inflation in Tatarstan was 16,2% in June after 18,01% in May. It turned out to be lower than in the Volga area (16,49%) but higher than in Russia in general (15,9%).