Russia’s consumer price growth has decelerated, reaching 9.02% between July 22 and July 28. Data from the Ministry of Economic Development indicates a continued downward trend, following a 9.17% increase the previous week.

The weekly decrease in prices remained consistent at 0.05%.

Rosstat data reveals the most notable price reductions for staple vegetables. Potatoes experienced the most significant drop at -9.7%, followed by white cabbage at -7.4%. Carrots, onions, tomatoes and cucumbers also saw price declines of -6.5%, -5.2%, -5.0% and -1.7% respectively. Overall, vegetable product prices decreased by 4.1%.

Price fluctuations were also observed in non-food sectors. Vouchers for rest homes and boarding houses decreased by -0.6%, sanatoriums by -0.2%, and accommodation in three and five-star hotels by -0.4%. Conversely, shampoos increased by +0.4%, toothbrushes by +0.5% and toilet soap by +0.2%.

The Bank of Russia recently adjusted its inflation outlook. The forecast for the end of 2025 has been revised to 6-7%, an improvement from the previous 7-8%. Inflation forecasts for 2026 and 2027 remain unchanged, with the Central Bank aiming to maintain a target of 4%. The regulator anticipates maintaining this target inflation rate in 2028 as well.