Russia’s inflation has reached 9.5% this year, according to new data from the statistical agency Rosstat. The consumer price index rose by 0.33% in the week leading up to December 23, driven largely by seasonal fluctuations in prices for fruit and vegetables. Cucumber prices rose by 8.3% and tomato prices by 1.9% in just one week, while less seasonally sensitive foods such as eggs and frozen fish also saw increases.
The central bank had initially estimated this year’s inflation at a maximum of 8.5%, but its head, Andrei Gangan, said full-year inflation will likely be between 9.6% and 9.8%. Inflationary expectations among households for the coming year have also reached 13.9%, the highest level since the beginning of the year.
The central bank’s report on its inflationary expectations survey found that respondents are most concerned about rising prices for milk, dairy products, eggs, meat, and fish. They are also beginning to notice increases in the prices of home appliances and electronic devices.