CBRT: Energy and food pressures persist on inflation

According to the report, consumer prices rose 2.58% month over month in October, while annual inflation stood at 29.77%. Energy prices increased by 4.92% on a monthly basis, pushing annual energy inflation to 51.37%. Unprocessed food prices also recorded a monthly increase of 6.04%. The CBRT noted that rising prices for motor fuels, solid fuels, bottled gas, and fresh vegetables were among the main drivers of inflation.

The three-month average of the seasonally adjusted underlying inflation indicators monitored by the central bank remained broadly stable at 1.8%. The slowdown in services inflation continued, while price increases in core goods remained relatively moderate. In October, services prices rose 0.99%, while core goods prices increased by 3.92%. The bank emphasized that price developments remained more balanced in categories excluding energy and food, highlighting the recent decline in the underlying trend of inflation.