Rosstat calculates the consumer price index (CPI) on a monthly basis and the CPI estimate on a weekly basis. Starting from January 1, 2021, the rates of changes in prices for goods and tariffs for services are monitored weekly for 106 items and monthly for 556 items.
For the week from January 26 to February 1, 2021, the CPI estimate, according to Rosstat, was 100.03%. That estimate was 100.7% since the beginning of the year.
When calculating the index over the past week, Rosstat clarified the structure of consumer spending and consumption volumes. The CPI estimate, as well as average prices and their changes for goods and services as of February 1, 2021, are calculated based on comparable prices for the previous week, taking into account the updating of the structure of consumer spending and the volume of consumption of goods and services in the regions. This allows you to save the time series and ensure that the comparison with previous periods is correct.
As a result, the share of food products increased by an average of 1.2%, while the share of non-food products and services decreased by 0.2% and 1.0%, respectively.
Food Products
The share of consumption of sugar, sunflower oil, eggs, buckwheat, rice, vermicelli and pasta, as well as flour, increased. For example, the share of sugar consumption in the refined structure of consumer spending increased by 0,1%. Its reduction in price for the week by 0.2% had a significant impact on the formation of the final result.
The consumption of various types of meat, fish, and dairy products remained at the same level. At the same time, last week recorded an increase in prices for fruit and vegetable products (by an average of 1.6%) and chicken meat (by 0.5%) and a decrease in prices for sour cream and butter (by 0.1%),
The share of expenditures on fruit and vegetable products increased by 0.6%, which is largely due to the outperforming price dynamics in the previous year.
Non-Food Products
The share of consumption of hygiene and essential goods, including household soap, washing powder, liquid cleaning and detergents, toothpaste, as well as a number of medicines, such as Corvalol, Ketoprofen, Troxerutin, and Fluocinolone Acetonide, decreased slightly. At the same time, most of the mentioned hygiene items showed a decrease in prices by 0.1-0.2% last week, and medicines – an increase in price by 0.1-0.2%. However, compared to the previous week, the growth rates of prices for some medicines and medicines decreased: for Bromhexine – from 1.1% to 0.5%, Almagel – from 0.7% to 0.1%, Fluocinolone Acetonide – from 0.5% to 0.1%, Valocordin – from 0.4% to 0.2%, respectively.
The share of spending on medicines related to life-saving and essential medicines increased by 0.4%.
The CPI calculation was also affected by a 0.5% drop in the share of household spending on passenger cars. At the same time, prices for passenger cars of foreign brands are growing throughout January 2021 (last week, they increased by 0.7%). At the same time, prices for domestic passenger cars remained at the level of the previous week.
Services
In the structure of consumer spending, the share of tourism services (the result of a number of restrictive measures aimed at preventing the spread of COVID-19) and banking services (reducing commissions and mandatory payments), as well as rail and air transport services, decreased.
Prices for the types of services observed on a weekly basis remained virtually unchanged. At the same time, an additional assessment of the types of services not covered by the weekly price monitoring showed a decrease in prices, in particular, for rail and air transport, as well as cellular services, which affected the final CPI estimate.
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