Annual inflation in Russia slowed to 14.3% in August
[ad_1]
Annual inflation in Russia in August of this year slowed down to 14.3% against 15.1% in July, follows from Rosstat data.
Food products in August fell in price by 1.36% compared to July and rose in price by 15.77% in annual terms, non-food products fell in price by 0.05% in monthly terms and rose in price by 15.51% compared to August last year. The cost of services increased by 0.05% compared to August and by 10.45% in annual terms. On a monthly basis, consumer prices fell 0.52%.
Deflation in Russia has been observed since June, then at the end of the month it amounted to 0.35%, and in July it accelerated to 0.39%. The greatest impact on the dynamics of prices in July, as reported by Rosstat, had a reduction in prices by 11.53% for fruits and vegetables. Cabbage fell in price by 33.2%, potatoes – by 27.6%, beets – by 27.1%, grapes – by 15.7%.
The Board of Directors of the Bank of Russia at a meeting on July 22 lowered the key rate by 150 basis points at once – to 8% per annum. The Central Bank explained this decision by saying that the current growth rate of consumer prices remains low, contributing to a further slowdown in annual inflation, which is due both to the influence of a set of one-off factors and to the restrained dynamics of consumer demand.
Subscribe on Vedomosti on Telegram and stay up to date with the main economic and business news.
[ad_2]
Source link
