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Economist Maria Konyagina told how the reduction of the Central Bank's key rate will affect the cost of the consumer basket

Economist Maria Konyagina told how the reduction of the Central Bank's key rate will affect the cost of the consumer basket

The Bank of Russia has reduced the key rate by 1.5% to 8% per annum. Such a decision is not only designed to prevent a sharp jump in inflation in the country, but also has a direct impact on the everyday life of ordinary citizens.

According to the Ministry of Finance, inflation at the end of May was 17.1%, in June it fell to 15.9%, and by June 15 it was already at the level of 15.5% for the year. Despite this, you should not expect a momentary reduction in the cost of products. Maria Konyagina, Doctor of Economics, expert in finance and lending, told about this "Made in Russia".

"The reduction of the key rate by 1.5%, provided that now the average rate for industry is 15-20%, will have an impact on pricing in stores within six months. Companies need to get a loan, use it for production purposes and only after that release a product that includes the updated cost of the loan," the expert believes.

According to Konyagina, first of all, the real cost will decrease for goods from the consumer basket, on which the government is based, talking about price stabilization.

The economist noted that the Central Bank is forced to gradually reduce the key rate. This is due to the risk of a sharp jump in inflation. In addition, this approach is more controlled than stimulating economic growth in the country.

Recall that the list and quantity of goods added to the basket of an able-bodied citizen, a child and a pensioner is different. At the end of 2020, its price in Russia amounted to 10,842 rubles for a working person, 8,259 rubles for pensioners, 9959 rubles for children.

Since 2021, the cost of living has been calculated using a different system based on the median salary in Russia. This value divides the entire number of jobs into equal shares: one half receives wages below this value, and the other half receives higher. As of 2022, 156 positions are included in the general list. The calculation is made in the quarter following the reporting one.

According to new calculations, an able-bodied Russian consumes 114.6 kilograms of vegetables, 58.6 kilograms of meat and 100 kilograms of potatoes per year. Non-food items include outerwear, underwear, stationery, household goods and medicines.

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Author: Alexander Baigazin

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