The Central Bank named the regions with the highest inflation

Food prices in Moscow grew faster than the federal average – by 10.23%, while in October the growth rate was 9.57%. Annual inflation in November in Moscow decreased to 9.36% from 9.54% in October. The Central Bank also noted a decrease in the imported supply of potatoes and an increase in the price of dairy products due to rising raw material and packaging prices.

• The Voronezh region shows high inflation rates: prices increased by 10.35% compared to 9.62% in October. Food products rose in price even more significantly, 11.33% compared to 10.23% the previous month. A significant increase in prices is observed in the local services sector: 13.84% compared to 13.36% in October. The annual growth rate of food prices in November increased from 9.76% to 10.81%. Central Bank analysts attribute this to a reduction in the supply of products and an increase in demand for services. Food prices in the region were also affected by the drought.
• A relatively high price increase was recorded in Sevastopol in November: annual inflation accelerated by 0.36 percentage points. – up to 10.07%. This dynamic, according to Central Bank analysts, is associated with increasing costs for manufacturers of goods and service providers. The year-on-year growth rate of food prices in the city also increased to 11.64% from 11.15% in October. The Central Bank notes a drop in fish catches and an increase in costs for fishing companies. Due to the increasing complexity of regional logistics, Sevastopol is also experiencing a rapid increase in prices for poultry, pork and sausages.
• High inflation is observed in the Chuvash Republic: price growth accelerated by more than one percentage point to 10.31%, compared to 9.22% in the previous month. Chuvashia’s indicators are higher than those of the Volga Federal District and those of the federal government. Prices for services increased the most in Chuvashia – by 13.86% against 12.74% in October. This was influenced by the increase in tariffs for services of cellular operators, the increase in gasoline prices, the increase in salaries and logistics costs, Central Bank experts found.

The Central Bank did not provide data on the growth of inflation in the Luhansk and Donetsk people’s republics, as well as in the Kherson and Zaporozhye regions.

Previously, the head of the monetary policy department of the Bank of Russia, Andrei Gangan, in an interview with Interfax estimated annual inflation at the end of 2024 at between 9.6% and 9.8%. According to the expert, next year’s inflation peak will be observed in April.