Inflation is the depreciation of money, or rising prices. When inflation is high, goods become more expensive quickly.
Prices for goods and services change constantly. Thus, from September 26 to October 2, 2023, prices for chicken eggs increased by 3.2%, while prices for gasoline, on the contrary, decreased by 0.4%.
In Rosstat reports you can see the average inflation rate of about 700 items. The lists include high-demand goods and services, from beef and handbags to diapers, manicures and water rates.
In September 2023, annual inflation in Russia, according to official data, amounted to 6%. This means that prices for the year from September 2022 to September 2023 increased by 6%.
The inflation rate will be different for each product or service. Prices will rise differently even for different brands of the same product. For example, furniture from one factory may rise in price by tens of percent per year, while furniture from another may not rise in price at all. We will explain why this happens below. But first, let’s figure out why inflation occurs in the first place.
