Central bank department says low inflation not stable yet - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Central bank department says low inflation not stable yet

MOSCOW, Jun 3 (PRIME) Ц RussiaТs low May inflation was mainly caused by one-time disinflation factors, the research and forecast department of the central bank said late on Thursday.

"The small growth of consumer prices in May was to a great extent caused by several one-time disinflation factors, mainly by dramatic strengthening of the ruble. The significant ruble strengthening coupled with falling consumer activity and inflation expectations led to a rapid deceleration of consumer price growth in April and May, which, however, cannot be called stable yet," the analysts said.

The statement added that as soon as the effect of the factors fades, prices can start to rise again.

The decrease of Russia's economic activity in AprilЦJune is to be insignificant as compared with March, the department said.

"At the same time, further trajectory of the economy in the second half of the year will to a great extent depend on the scale on which the companies will be able to find alternative channels of foreign supplies or imports substitution by local producers," the statement read.

At the same time, a time lag may occur before the economy transforms, in this case the decrease of production and supply may deepen.


03.06.2022 08:35
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 61.2171 +0.2139 29 jul
USD 60.2031 -0.0167 29 jul
Stock Market Indices
1D 1W 1M 1Y
micex 2189.16 -0.32 18:51 28 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 196.24 -0.13 18:36 28 jul
lkoh 3847.50 0.00 18:53 28 jul
rosn 348.70 0.00 18:49 28 jul
sber 131.69 -0.61 18:36 28 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 61.1000 +0.5550 14:59 28 jul
USDTD 60.8350 +0.9200 17:44 28 jul