The FINANCIAL — Russia’s consumer price inflation slowed further in June as food prices fell at the beginning of summer, data from the federal statistics service showed on July 6, according to Nasdaq.
Compared with a year earlier, consumer prices were 15.3% higher in June. In monthly terms, inflation slowed to 0.2% in June.
In May, consumer prices rose 15.8% from a year earlier and 0.4% from the previous month.
Inflation in Russia accelerated to double-digit readings in 2014 following Moscow’s ban on food imports from countries that had imposed sanctions on Russia. A rapid depreciation in the ruble also spurred inflation.
Now, as inflation gradually eases, the Bank of Russia is widely expected to continue cutting interest rates at a moderate pace, having already loosened monetary policy four times this year.
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