The growth rate of consumer prices in May slowed down to 0.7% mom from 0.9% mom in April. The slowdown in inflation in May was facilitated by the weakening of the dynamics of growth in food prices and moderate growth in prices for non-food products, while the growth in the cost of paid services reached its highest value since August 2018. At the same time, gasoline prices have continued to rise for four months in a row, as a result, their influence on the growth of prices for consumer goods and services persists. Despite the slowdown in monthly inflation, annual inflation accelerated from 7.0% in April to 7.2% in May, while in some regions of the country inflation exceeded 8.0%. At the end of 2021, we forecast inflation at 7.0%.
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