MOSCOW (Pakistan Point News / Sputnik - 23rd July, 2023) Annual food inflation in Russia amounted to 0.08% in June, which is the lowest rate among all countries in Europe, according to Sputnik calculations based on data from national statistics.
Russia logged annual food deflation in April for the first time since 2018, reaching a record of 1.12% in May.
Hungary posted Europe's highest annual food inflation rate in June at 29.3%, dropping below 30% for the first time in 10 months. Serbia's food inflation rate in June stood at 21.1%, followed by Estonia (19.5%), Slovakia (18.9%) and Romania (17.9%) rounding out the top five of the list.
Besides Russia, annual food inflation in June was below the 10-percent mark in five other countries, including Belarus (3.6%), Switzerland (5.1%), Portugal (8.6%), Denmark (8.8%) and Finland (9.2%).
Inflation decelerated in early summer in most European countries, particularly in Hungary (-4.4 points), Lithuania (-3.8 points), Ukraine (-3.6 points), Latvia (-3.5 points) and Slovakia (-2.8 points).
Five European countries posted rising inflation, with Cyprus at the top of the ranking as inflation grew to 10.12% in June from 8.38% in May. Inflation also hiked in Russia (+1.2 points), Malta (+0.9 points), Norway (+0.8 points) and Greece (+0.6 points).
The study was conducted by Sputnik on the basis of data from the national statistical agencies of 40 European nations, which released their June reports as of mid-July. Food inflation rate gauges changing prices for food and soft drinks.
