While a number of developed countries are trying to cope with deflation, the Eurasian Economic Union (EEU) faces quite the opposite issue – struggle against the inflation. Russia holds the absolute record for the price hike of goods and services; in May consumer prices grew by 15,7 per cent on the average at an annual rate.

Food production is especially impressive: food products have become 24,4 per cent more expensive, the prices of fruits and vegetables rising by 30 per cent. Together with this, local analysts consider as a positive shift the certain slowdown of annual inflation in May, as compared with April.

In Armenia the inflation was unequivocal – 5,1 per cent at an annual rate. The price of food products (except for alcohol and tobacco) raised by the same 5,1 per cent. Together with this significant price hike by 10,0 per cent was observed with relation to vegetables and potato. If the application on energy tariff raise, presented to Electric Networks of Armenia CJSC is satisfied, the next inflation is soon bound to start. In Kazakhstan food products became on average 4,7 per cent more expensive over a year. Sharp price hike was observed with regard to such products as cereal (by 20,3 per cent), flour (11,4 per cent), coffee, tea and cocoa (by 9,2 per cent), etc. But there were exclusions as well.

Inflation indicators in Belarus for May haven’t yet been published by June 5.