Is it possible to reduce the general level of consumer prices in the Russian economy?

The article analyzes the possibility of reducing the general level of consumer prices in the Russian economy. The labor theory of value was chosen as a theoretical basis for analyzing the dynamics of the price level. It is shown that the labor substance of a product of social production is manifested not only in its value, but also in its labor intensity. It is noted that the unity of labor intensity and cost determines the unidirectionality of changes in their levels. The reason for calculating labor intensity using primarily the value of living labor has been identified. The reason for the calculation of labor intensity using mainly the value of living labor is revealed. It is shown that the dynamics of the ratio of the volume of living labor to the value of the product of social production corresponds to the direction of change in the total labor intensity of this product. It is substantiated that the vector of change in the value of a product of social production can be judged by the dynamics of the costs of living labor for its creation. Taking into account the fact that the price is the money-form of value, the ability of the dynamics of the labor intensity of a product of social production to reflect the objectively possible direction of changes in the general price level is shown. It is proposed to use the sum of sectoral value added created in sectors with a predominance of productive labor to calculate the integral labor intensity. Data are presented for the period from 2005 to 2019, indicating a decrease in the labor intensity of the product of social production in general and its sectors producing consumer goods and services. It is shown that despite the decrease in thelabor intensity of products in these sectors, and, therefore, their cost, the general level of consumer prices tends to increase. It is concluded that the possibility of lowering the general level of consumer prices in the Russian economy remains formal (abstract), that is, requiring the fulfillment of additional conditions for its implementation.