The average annual inflation in January reached 11.77%

The minimum annual inflation was observed in the Khanty-Mansi Autonomous Okrug, where prices increased by 6.6% in annual terms. The maximum was formed in Ingushetia. Here, prices have increased by 18% over the year.

"The indicators of stable price dynamics in annual terms were mainly declining, but the pace of price growth for the month, seasonally adjusted, accelerated. This confirms the gradual strengthening of price growth after a period of restrained dynamics in the second half of 2022", - the Bank of Russia said in a statement.

Thus, as noted in the materials of the regulator, annual inflation in Ingushetia slowed to 18.06% after 18.64% in December last year. This is higher than in the whole district (11.86%) and in the whole country. "The dynamics of inflation in the region was influenced by the expansion of supply in certain commodity markets, as well as the reduction of producer costs against the background of restrained consumer demand for a number of goods and services", - the review says. At the same time, it is noted that the growth of food prices in January slowed down to 19.71% from 20.21% in December last year.

The slowdown in inflation in Ugra was affected by the expansion of the supply of a number of goods and services, as well as restrained consumer demand. Food inflation in the region slowed by 0.26 percentage points to 6.79% in January this year.

In Moscow, in January of this year, annual inflation increased for the first time since May last year and amounted to 12.06% after 11.70% in December 2022. The increase in prices in the capital was affected by a significant increase in tariffs, a decrease in the supply of a number of vegetables, as well as an increase in production costs. Grocery inflation reached 9.62%.