Economic ministry: Russia may see 0.2% deflation in August

MOSCOW, Aug 10 (PRIME) -- Russia may see deflation of 0.2% in August, while annual inflation may amount to 6.7–7%, a spokesperson for the Economic Development Ministry told PRIME on Wednesday.

“Under our estimates, inflation in August will amount to minus 0.2% - plus 0.1% in monthly terms, and 6.7–7% year-on-year,” the spokesperson said.

Annual inflation amounted to 7.1% as of Monday, he said.

Russian consumer prices fell 0.1% from August 8 through Monday, keeping the dynamics of the previous week, while inflation since January 1 stood at 3.8%, the Federal State Statistics Service said earlier on Wednesday.

The planned abolishment of a food ban on Turkish products is not expected to have an immediate impact on Russia’s food inflation, the spokesperson also said.

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