According to the Main Directorate of the Bank of Russia for the Central Federal District in the Moscow Region, annual inflation in the food market decreased to 10.47% in December from 11.32% in November.

The increase in the volume of products produced at livestock complexes in the Moscow Region has caused an increase in the supply of chicken meat, beef and pork in the domestic market of the region. This led to a slowdown in the growth of prices for poultry and beef, as well as to an acceleration in the decline in pork prices. The dynamics of meat prices affected the reduction of raw materials costs of meat processors, as a result of which the growth of prices for minced meat, sausages, sausages and boiled sausage slowed down.

An additional impact on the dynamics of prices for meat products was caused by a decrease in pressure from the costs of livestock breeders for feed against the background of a slowdown in the growth of prices for grain and soybeans. So as an increase in the volume of feed production, as well as the actions of preferential lending programs for the purchase of a number of feed components and vitamins. The same factors, as well as an increase in milk production, contributed to a decrease in the annual growth rates of prices for dairy products (butter, cottage cheese, fermented dairy products, cheese).

In general, annual inflation in the Moscow Region in December 2022 amounted to 14.11%.

According to the forecast of the Bank of Russia, annual inflation will continue to decline and may briefly fall below 4% in the spring of 2023. Taking into account the current monetary policy, annual inflation will be 5.0-7.0% in 2023 and will return to 4% in 2024.

- Together with the Central Federal District General Directorate of the Bank of Russia, we monitor the situation and analyze data on inflation rates in the Moscow Region. Back in November 2022, a slowdown in the growth of poultry meat prices was recorded in the Moscow Region. Following the results of December, a clear trend was established in reducing the cost of meat products. This is facilitated by a wide range of support measures and the solution of systemic issues by the Government of the Russian Federation and the team of the Governor of the Moscow Region Andrey Vorobyov, who pays special attention to assistance and business development in the region. Simplification of procedures, receipt of investment funds, grants, subsidies, preferential loans, special statuses – all this has a positive effect on the food industry in the Moscow Region, - said Vladimir Golovnev, the Commissioner for the Protection of the Rights of Entrepreneurs in the Moscow Region.