Russia: Inflation edges up in July
August 6, 2018
In July, consumer prices rose 0.3% from the previous month, slightly below June’s 0.5% increase. According to Rosstat, prices for food products fell in the month, however, higher prices were recorded for services and non-food goods.
Inflation rose to 2.5% in July, above June’s 2.3% but still a historically low level. Price pressures remain subdued and inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation fell from 2.7% in June to 2.5%, the lowest level in the country’s modern history.