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Russian ministry sees July inflation at 4.0-4.2% y/y

Russian ministry sees July inflation at 4.0-4.2% y/y

MOSCOW: Russia’s Economy Ministry expects annual inflation to be in a 4.0-4.2 percent range in July compared with 4.4 percent in June, it said on Monday.

In month-on-month terms, consumer price growth is seen at 0.2-0.4 percent, compared with 0.6 percent in June, the ministry said in an emailed document. Russian Economy Minister Maxim Oreshkin said earlier on Monday that Russia could see deflation in August, in month-on-month terms, due to seasonal decline in prices for vegetables.