In may 2018, the annual growth rate of consumer prices decreased primarily due to the slowdown in the growth of prices for fruits and vegetables, as well as prices not affected by the seasonal factor and administrative regulation.
The growth of prices for fruit and vegetables in annual terms has slowed down from 13.8% in April to 2.9% in may 2018 This was primarily attributed to recovery in prices for bananas after more than a thirty percent growth in February – March, 2018 under the influence of conjunctural factors, as well as a seasonal decrease in prices for cucumbers and tomatoes.
Annual core inflation in may 2018 slowed to 2.9% (3.1% a month earlier) due to lower prices for certain non-food products. At the same time, the aggregate indicator of trend inflation over the past three months remains unchanged at 3.2%, which indicates the stability of price dynamics. The average intensity of growth in consumer prices and tariffs was at the level of 2.8% (3.1% in April 2018).
The growth of administratively regulated prices and tariffs in the reporting period accelerated in annual terms by 0.2 percentage points to 8.9 percent. In may 2018, the main increase was provided by the increase in fuel prices and tariffs for communication services.