Annual inflation in October fell to 3.8%, according to Rosstat. Over the month, consumer prices rose 0.1% after falling in August and September.
Prices for foodstuffs in October increased by 4.6% in annual terms, for non-food products - by 1.4%. Buckwheat rose especially noticeably – by 7.3% compared with October last year, while in 48 entities, cereal prices increased even more.
In November, the Ministry of Economic Development expects monthly inflation at 0.3%, and annual inflation at 3.5-3.6%. At the end of the year, the department predicts a decrease in inflation to 3-3.3%.
Central Bank analysts believe that next January inflation will fall to 3% under the influence of disinflation factors and due to the withdrawal of the effect of increasing the VAT rate. The inflation will return to the 4% target by the end of 2020.