
Inflation Accelerates in Dagestan

In Dagestan, annual inflation in June accelerated to 2.4% after 0.3% in May, the Press Service of the National Bank's Department for Regional Development of the Southern Main Branch of the Central Bank of the Russian Federation reported.
The most significant impact on inflation was the increase in demand for some food products, the weakening of the ruble, and the growth of tourist flow to the region. "The increased tourist flow to the region has caused a higher demand for lamb and beef. As a result, the annual growth of prices for meat products as a whole accelerated. This, as well as an increase in the price of imported vegetables against the backdrop of a weakening ruble, predetermined the acceleration of annual inflation in June," Murad Idrisov, the head of the department, said.
Due to the increase in the tourist flow to the republic, the demand for housing services also increased, which led to a rise in the annual growth rate of apartment rental prices.
In Chechnya, annual inflation in June was at 3.2%. This is lower than the value for the North Caucasus (3.8%) and approximately corresponds to the country's overall level (3.25%).
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