EconomyDeputy Mayor of Moscow spoke about the fall in...

Deputy Mayor of Moscow spoke about the fall in consumer prices

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Customers queuing at a grocery store in Moscow. archive photo

Moscow Deputy Mayor Yefimov: Consumer prices in Moscow have been falling for the fourth month in a row

MOSCOW, November 22 – RIA Novosti. Deflation was observed in Moscow for four months in a row, consumer prices fell by 0.1% in October compared to September, the press service of the economic policy of the capital complex and property and land relations reports.

“After the influx of consumers in the spring, price correction continues in the capital. As a result, the cost of goods and services decreased by 0.1 percent in October, as in September, compared to the previous month. The main reasons for this are: Increased domestic production volumes, restored logistics connections and Reduction in the cost of food and non-food products due to a comfortable ruble exchange rate for importers, said Vladimir Yefimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

According to the Moscow City Department of Economic Policy and Development, it was noted that prices fell in all directions, excluding services: the price of non-food products fell by 0.19%, food – by 0.15%. The cost of services increased by 0.15%, mainly due to higher prices for airline tickets, communication services, excursions and insurance.

“The prices of sausages, cheeses, certain fruit and vegetable products, as well as clothing, furniture and communication equipment fell at the highest rates in October. Among products, the largest price reductions were recorded for carrots, apples, with 6.3 percent. and grapes – 4.3 percent. The items that lost the most value among non-food items were timber with 6.7 percent, smartphones with 5.8 percent and Egypt with 3.1 percent.

Overall, capital inflation for the 10 months of 2022 was reported to be 10.6%, 1.2 percentage points below the June peak. On an annual basis, from October 2021 to October 2022, consumer prices in Moscow increased by 12.5%, which is 0.1 percentage points less than in the whole of Russia.

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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