The FINANCIAL — Russia’s consumer prices rose 0.1% in the week to Nov. 30, maintaining the same rate of growth for the third week in a row, data from the Federal Statistics Service showed on December 2, according to Nasdaq.
Steady weekly inflation suggests a continued slowing in the annual inflation rate, which should give the central bank room to trim interest rates in the near future.
The central bank had been widely expected to cut rates as soon as its next board meeting on Dec. 11. Moscow’s ban on food imports from Turkey, however, may postpone monetary easing as consumer inflation is set to spike in the next few months.
So far this year, consumer prices have increased 12%, compared with a rise of 8.5% in the corresponding period last year.
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