Weekly inflation in Russia as of October 18 reached 0.26%, on an annualized basis - 7.8% (7.78%), follows from Rosstat data. This is the highest since the beginning of 2016. Last week annual inflation exceeded 7.5%.

The growth in food prices in annual terms exceeded 10% (10.34%), for non-food products it exceeded 7.5% (7.68%). Weekly food inflation remained fruit and vegetable: cucumbers rose in price by 14%, tomatoes - by almost 10%, potatoes - by 3.6%. Among other foodstuffs, prices for chickens (by 1.5%) and eggs (2.8%) went up.

Today, at a meeting with the government, President Putin linked the rise in prices for agricultural products with the rise in the price of fertilizers and instructed "to present a set of measures that would certainly ensure the interests of our agricultural producers and, accordingly, would curb the rise in prices for food."

In September, the Ministry of Economic Development raised the inflation forecast for the end of the year from 5 to 5.8%, and already in October - to 7.4% .
On Friday, October 22, the Central Bank will hold a meeting on the key rate, from which it is expected to increase by 0.5 percentage points at once, to 7.25%, which will be the maximum since July 2019. The Bell found out why experts are talking about a bad inflation scenario and how they assess the outlook for the economy.

Annual inflation in Russia rose to 7.8%