Inflation in Russia is likely to fall for a third month to its lowest level since the start of the Ukraine war, after consumer prices fell for consecutive weeks due to the ruble’s strength and a seasonal decline in fruit and vegetable prices. Bloomberg News reported yesterday.
International sanctions, initially intended to cripple the Russian economy, caused a brief shock to the currency and disrupted supply, and the post-sanctions frenzy drove inflation to four times the central bank’s 4% target.
But annual price growth peaked two months after the war began in February, and the median forecast for inflation in a Bloomberg survey of 16 analysts may have eased to 3.15% in July.
Another survey showed that on a monthly basis, inflation remained slightly below zero for the second month in a row.
Follow our latest local and sports news and the latest political and economic developments via Google News
“Creator. Award-winning problem solver. Music evangelist. Incurable introvert.”
More Stories
Guterres, Erdogan to meet Zelensky in Lviv to discuss Ukraine’s grain exports
Lula and Bolsonaro begin campaigning for Brazil’s presidential election
Al-Qassemi calls the leaders of Iraqi political forces to a national meeting