Russia: Inflation slows to lowest level in six months
July 4, 2013
In June, consumer prices rose 0.4% over the previous month, which was below the 0.7% increase recorded in May. The moderation stemmed from slower growth in prices for goods, in particular for food products. As a result of the more subdued monthly rise, annual headline inflation fell from 7.4% in May to 6.9% in June, the lowest level in six months.
The core consumer price index, which excludes short-term price changes influenced by administrative and seasonal factors, rose 0.3% in June, which was in line with the result recorded in May. Annual core inflation inched down from 5.9% in May to 5.8% in June.
FocusEconomics Consensus Forecast panellists see inflation ending 2013 at 6.0%, which is unchanged from last month's forecast. In 2014, participants expect inflation to moderate to 5.8%.
Author: Armando Ciccarelli, Head of Data Solutions