Cbank: Annual CPI speeds up to 3.4% in Sep over food price growth

MOSCOW, Oct 18 (PRIME) -- Russia’s inflation sped up to 3.4% in annual terms in September from 3.1% in August as food became much pricier, the central bank said in a report on Thursday.

The current inflation dynamics coincides with the regulator’s baseline forecast that sees annual inflation rising to 3.8–4.2% as of the end of 2018 hit by the weakening ruble.

“The weakening of the ruble that happened earlier this year had a significant impact on prices of consumer goods, as well as on prices of non-food goods and services,” but the annual growth dynamics of consumer prices is relatively low and amounted to 1.9% in August and at 2.5% in September, the central bank said.

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