Year-on-year, cost of food and non-alcoholic beverages increased to 20.0 percent (20.4 percent in July); prices of housing and utilities went up 13.3 percent (13.2 percent in July), cost of recreation and culture rose 22.5 percent (from 19.1 percent). Transport prices were up 17.9 percent (11.8 percent in July); clothing and footwear increased by 11.5 percent.
Month-on-month, inflation slowed to 0.4 percent, from a 0.8 percent increase in the previous month, but reached the highest level for an August month in five years. Nonfood prices were up 0.8 percent (0.5 percent in July), cost of services increased 1.3 percent (3 percent in July), while prices of food declined 0.7 percent (-0.3 percent in July).
The rise in the inflation rate was not expected by markets as prices of fruits and vegetables usually decrease in August due to favorable weather conditions. However, the ruble depreciated more than 5 percent during the month, putting further upward pressure in prices of imported goods.
Core inflation rate increased to 16.6 percent in August, from 16.5 percent in the previous month.