In March 2022, annual inflation in Dagestan was 20.39%. This is still the highest level in the North Caucasus Federal District (average 17.62%) and the country as a whole (16.69%).
The Central Bank explained the reasons for such a high rise in prices:
– Growth of consumer demand for certain goods and services;
-High costs for producers due to sanctions;
– Lack of offers for some product groups.
According to the analysis, inflation was most affected by food price hikes.
Thus, in March, import deliveries of tomatoes, cucumbers, potatoes, bananas, pears and grapes decreased, and against the backdrop of the weakening of the ruble, the importation of these vegetables and fruits was carried out at higher prices than a year earlier.
Due to the low yield of cabbage in other regions of the country, Dagestan producers of this vegetable redirected their stocks to other regions, which led to an acceleration in the growth of prices for cabbage in Dagestan as well.
As for non-food products, inflation was affected by the rise in prices for cars, household appliances and household chemicals.