Econ ministry expects July inflation at 0.3–0.4%, annual at 3.3–3.4%

MOSCOW, Jul 8 (PRIME) -- The Economic Development Ministry expects Russia’s inflation to amount to 0.3–0.4% in July, with annual inflation speeding up to 3.3–3.4% next month, the ministry said in a report on Wednesday.

Annual indexation of tariffs for public utility services will contribute to inflation in July, but total consumer price index will remain close to the level of 2019, the ministry said.

“In June 2020, inflation amounted to 3.2%, which meets the forecast. Ñonsumer demand recovery as the quarantine restrictions were lifted triggered a natural but moderate growth of prices in the non-food segment,” the report read.

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