Economic ministry says Russia’s annual inflation at 2.4% in May

MOSCOW, Jun 14 (PRIME) -- Russia’s inflation remained flat in annual terms at 2.4% and reached 0.4% in monthly terms in May, the Economic Development Ministry said in a statement on Thursday.

“The weakening of the ruble over the past few months did not lead to a noticeable increase in consumer prices. Inflation remained at the April levels in May in annual terms – at 2.4% year-on-year – and in the terms of consecutive growth, or at 0.4% in monthly terms,” the ministry said.

The growth of prices for some food and goods that are sensitive to changes in the ruble’s rate sped up in April, but normalized in May, the ministry said.

Russia’s annual inflation may amount to 2.1–2.2% in June, and 0.3–0.4% in monthly terms. The government measures to stabilize fuel prices and the inflow of products of the latest crop harvest will affect the market in the month, the ministry added.

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