Food prices in Russia increased by more than 50 percent in 2024.
Financial analyst at BitRiver Vladislav Antonov believes that food inflation could reach 100 percent.
In his opinion, the rise in food prices is connected with the increase in housing and communal services tariffs and the weakening of the ruble, Gazeta.Ru emphasizes.
In such conditions, it is difficult to say that price growth will slow down before the end of the year.
The analyst explained that with high inflation, real incomes, especially in regions with low wages, will decline.
Antonov also noted that official inflation is based on an average consumer basket, which may not reflect the real expenses of most citizens.
He specified that this is more noticeable for those who spend most of their budget on everyday goods, for which prices are rising faster.
According to the Central Bank of Russia, as of October 21, annual inflation was 8.4 percent.
In November 2024, Russians noted an increase in prices for essential goods.
For reference
Inflation is a sustained increase in the general level of prices for goods and services.
