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Bank of Russia: Inflation in Russia will be Close to Zero
August 19, 2017 16:46


 Inflation in Russia will be close to zero in August, at the same time given the volatility of prices, deflation may be observed in some weeks. This was told by the Bank of Russia. The Central Bank also reported that “the slowdown in inflation is seen as a systemic one and is not connected solely with individual volatile components”.

Earlier, on August 4, the Federal Statistics Service said that inflation in Russia slowed down to 3.9 percent in annual terms in July. This is 0.1 percentage points lower than the standard set by the Central Bank. In mid-July the Central Bank said that the cold weather could lead to a partial loss of harvest.

In combination with a lower level of stocks transferred to 2018 this can lead to an acceleration of inflation at the end of this year and at the beginning of the next year. The target level of inflation of the Bank of Russia amounts to four percent by the end of 2017. This indicator should be the lowest in the recent history of Russia. In 2016 consumer prices have risen by 5.6 percent.


Author: Anna Dorozhkina


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