Economic ministry says inflation at 6.6% annually as of Monday

MOSCOW, Jul 8 (PRIME) -- Inflation amounted to 6.6% annually as of Monday and to 6.5% in June, the Economic Development Ministry said in a statement late on Wednesday.

"The annual price growth (in June) continued to accelerate (6.5% on the year after 6.02% on the year in May), partially due to a low last year’s base. Food contributed most, as usual, due to accelerated growth of fruit and vegetables," the statement read. 

Food inflation slowed down to 0.64% monthly in June from 0.96% in May. "Prices for non-food goods have continued to increase at an accelerated rate thanks to the goods with a high import content and construction materials. Besides, inflation in the servicing sector increased significantly in June on the  tourism service price growth," the ministry said.

The Industry and Trade Ministry said in a statement that it expects construction material price stabilization soon because global prices have started to decline.

Deputy Economic Development Minister Polina Kryuchkova said that the ministry expects fruit and vegetable prices to normalize in July, holding down inflation. The current situation is conditioned by a decrease of stock ahead of a new harvest.  

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