Russia: Inflation inches down in June
July 11, 2018
In June, consumer prices rose 0.5% from the previous month, slightly above May’s 0.4% increase and market expectations of a 0.4% rise. According to Rosstat, the acceleration in price pressures was driven largely by higher prices for services.
Inflation inched down to 2.3% in June, a historically low level (May: 2.4%). Price pressures remain subdued and inflation lies far below the Central Bank’s target of 4.0%. Annual average inflation fell from 2.8% in May to 2.7%, the lowest level in the country’s modern history.