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Inflation in the Far Eastern Federal District exceeded the average Russian values in December
At the end of December 2020, annual inflation in the Far East increased to 5,0% after 4,5% in November. The average Russian indicator was 4,9%.
According to the press service of the Central Bank, the rise in prices was mainly influenced by the weakening ruble and the current restrictions on cargo transportation with China. Because of this, the annual food inflation increased to 6,6% in December after 5,7% in November. Vegetables, fruits, citrus fruits and eggs rose more than others. However, the deficit was avoided due to limited supplies of some products: vegetables were replaced with products from local greenhouses.
Due to the depreciation of the ruble, prices for citrus fruits increased. And due to the increased costs of producers and the rise in feed prices, the annual growth in prices for eggs, pasta and potatoes accelerated.
Non-food products rose 4,6% in December after 4,4% in November. Especially, due to the named factors, the cost of building materials has grown. On the other hand, prices have declined in the medical market. In the service sector, prices rose from 2,9% in November to 3,4% in December.
Most of all, prices rose in the Amur Region - by 1,2 percentage points, up to the maximum inflation rate in the Far East - 7,2%. The lowest inflation was in Chukotka - only 1,9%.