Russia’s annual inflation in October was 3.5%

© RIA Novosti / Ilya Petliurite in photobacteria in the store. Archival photoRussia’s annual inflation in October was 3.5%© RIA Novosti / Ilya Petliurite the image Bank

Inflation in Russia in October accelerated to 0.4% from 0.2% in September, while in annual terms it recorded an acceleration to 3.5% from 3.4% in the previous month, according to Rosstat.

In January-October the rise in consumer prices was 2.9%. While food commodities in October rose by 0.6%, for ten months prices have grown by 1.9%. Food items excluding fruit and vegetable products became more expensive by 0.7% (during the ten months, 2.9%).

According to the latest forecast of Ministry of economic development, inflation in Russia in 2018 will amount to 3.4%, however, the Ministry recognized that the preservation of the ruble at the current levels it will be accelerated up to 3.7-3.9 percent.

According to Rosstat, in the nine regions (except the Autonomous districts included in the region) in October, the growth of consumer prices amounted to 0.7% and more. The greatest increase of prices was observed in the Magadan region – 1,5% due to the increase of prices on food by 3%.

«However, in the Chechen Republic saw a decline in consumer prices for goods and services by 0.4%, mainly the result of reduction in price of fruits and vegetables by 4.6% and services air and rail transport 27.4% and 10.4% respectively,» — stated in the message of statistical Department.

In Moscow growth of consumer prices for the month amounted to 0.2% (YTD — 3%), in St. Petersburg — 0.3% (from the beginning of the year to 2.8%).

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