Prices Grow More Slowly

Krasnodar, 26 February – Yug Times. Yearly inflation in the Southern Federal District fell by 0.8%.

According to the Southern Main Branch of the Bank of Russia, the rate of consumer prices increase in January 2020 in the Southern Federal District equalled to 1.9% against 2.7% in December 2019. At the same time, food inflation fell from 2% down to 1.3%; nonfood inflation – from 2.4% down to 2.1%; inflation in the sphere of services – from 4.2% down to 2.7%. Analysts tend to explain the price deceleration by the high yield of cereals in conditions of weakened global demand and expanded offer at certain food markets. 

As for the non-food inflation, the list of main reasons for its slowing down includes deceleration of prices for new cars, fuel, furniture, detergents, and perfumery. Price deceleration in the sphere of services has reportedly been explained by the lack of price rises for housing and communal utilities and public transport fares.

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