In 2022, the year of the military attack on Ukraine, Russia experienced an unprecedented increase in consumer prices.
According to the federal state statistics service “Rosstat”, the growth was 11.9 percent, which is the highest figure since 2015.
The highest increase was recorded in the spring, immediately after the attack on Ukraine and the imposition of sanctions on Russia. During that period, inflation reached 17.8 percent.
Food inflation in 2022 was 10.3 percent. The prices of milk and dairy products increased the most, by 15.2 percent. The price of butter, pasta and fish rose by more than 14 percent, the price of sugar by 13.5 and the price of bread by almost 13 percent.
Inflation of non-food products was 12.7 percent. The prices of detergents and cleaning products have increased sharply, by almost 30 percent. The inflation of household appliances was 15.3 percent, and that of medicines was 10.8 percent.
Utilities costs increased by 11.6 percent. In 2022, the Russian government raised tariffs twice, by 6.5 percent in July and by 9 percent in December.
After foreign airlines canceled flights to Russia in response to the attack on Ukraine, and Europe restricted the issuance of visas to Russians, the inflation rate of foreign tourism service reached almost 71 percent.
The Central Bank of Russia predicts that the deficit will reach 5-7 percent in 2023, while the Ministry of Economic Development predicts it will be 5.5 percent.