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HomeLatest NewsInflation in Russia suddenly fell by half. And that's why

Inflation in Russia suddenly fell by half. And that’s why

Date: June 4, 2023 Time: 00:59:21

On Wednesday night, Rosstat announced that annual inflation in Russia had slowed down and stood at 5.99% as of March 20.

Photo: Maria CUAREMS

Rosstat has regularly provided us with positive information recently, which is a sin not to rejoice.

For example, all experts, including Russian government ministers, were sure a month and a half ago that the Russian economy would fall by at least 3% in the last year. But then Rosstat got down to business in earnest and at the end of February pleased us with a figure of 2.1% – this is exactly how much, according to our statistical teachers, the Russian economy declined last year. Not a single economist, even the most optimistic, predicted such a positive outcome for the most difficult year 2022.

And now – a new portion of positive. On Wednesday night, Rosstat announced that annual inflation in Russia had slowed down and stood at 5.99% as of March 20. But a couple of months ago it was double, around 12%. How did it happen?

Seriously, there are no miracles here. In fact, it is quite possible to believe in such figures. And that’s why.

As you remember, at the beginning of March last year, prices in Russia skyrocketed. It was then that people burst into the shops and swept sugar, buckwheat, pads, toilet paper and other household necessities from the shelves. And the ruble fell, serious problems with imports began. All of this taken together took – and sent prices through the roof.

And now Rosstat, considering annual inflation, compares the prices of March 20, 2023 with the same prices that have already risen on March 20, 2022. Thus, it turns out that prices have not risen that much throughout the year. If we compare, let’s say, with the prices since the beginning of last year, that is, before the events of February 24, then inflation will be 18 percent.

At the same time, Rosstat talked about how prices have changed during the week of March 14-20. And here, too, a solid positive: during this time they grew by only 0.1%. The prices of cucumbers (minus 6.1%), tomatoes (plus 3.1%) and economy class plane tickets (plus 6.6%) have changed more markedly during the week. All other goods and services have gone up or down in price within 1%.

By the way, a little announcement: At the beginning of April, Rosstat should report on inflation for the first quarter.


Which goods and services have risen the most in price during the week…

Flight in economy class cabin +6.6%

Tomatoes + 3.1%

Smartphones + 0.91%

Eggs + 0.82%

Sneakers + 0.7%

… and which ones have dropped in price

Toothpaste – 0.4

Vacuum cleaners – 0.49%

Chilled and frozen chickens – 0.55%

Buckwheat – 0.56%

Cucumbers – 6.1%

According to Rosstat for the period from March 14 to 20.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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