The average purchase price of food products and official inflation are different indicators, said the chairman of the Bank of Russia Elvira Nabiullina in an interview with the FunnyMoney YouTube channel.
According to the head of the Central Bank, she buys food in online stores with delivery, and noticed that her grocery basket has risen in the price above the level of official inflation, claiming the official food bills have risen more than the rate of the inflation in the country.
“I won’t comment on the numbers, but this is more than what we see in the general inflation indicators,” the head of the Central Bank said in the interview.
According to official statistics, consumer prices in Russia have increased by 5.71% since the beginning of the year, and annual inflation has accelerated to 7.63%.
The head of the Central Bank explained that official inflation is an indicator that takes into account changes in prices in different sectors of the economy, and different goods and products.
For example, there is food inflation, she pointed out, illlustrating that regarding the general index of price inflation, 27% now belong to the services. ”
“Services have not risen in price for a long period of time,” Naniullina explained.
“Food prices, naturally, have grown – and this is evident in the statistics – more than the general inflation rate,” Nabiullina said.
She noted that prices have grown significantly, but “everyone has their consumption structure” and their own “personal inflation”. This effect of personal perception is seen “in many countries”.
“This gap between perception and real inflation, of course, is now large,” the head of the Central Bank emphasized.