Deflation Recorded in Moscow for the Fourth Month in a Row

The Index of Consumer Prices in October decreased for the fourth month in a row. Сonsumer prices fell by 0.1% compared to September, as Deputy Mayor Vladimir Efimov announced.

According to the Moscow Analytical Center, consumer prices have become cheaper in all areas, except for the services: prices for non-food products fell by 0.19%, prices for food products fell by 0.15%. The cost of services increased by 0.15% due to higher prices for air tickets and communication services.

In October, prices for sausages, cheese, fruits and vegetables, clothing and furniture decreased most rapidly. As for the food products:

  • Carrots: -6.3%
  • Apples: -4.3%
  • Grapes - 4.3%

As for non-food products:

  • Saws: -6.7%
  • Smartphones: -5.8%

Package tour prices fell the most: to the UAE (-4.1%), to Turkey (-3.2%) and Egypt (-3.1%).

In general, at the end of ten months of 2022, inflation in Moscow amounted to 10.6%. This is 1.2 p.p. lower than the peak value in June. From October 2021 to October 2022 consumer prices in Moscow have increased by 12.5%, which is also 0.1% lower than in the whole of Russia.