Russian econ ministry says deflation still possible in August

MOSCOW, Aug 24 (PRIME) -- The Economic Development Ministry keeps its forecast for Russia’s consumer price dynamics in August in the range of 0.2% deflation and 0.1% inflation, a spokesperson for the ministry told PRIME on Wednesday.

“The August estimate was kept in the range of minus 0.2% and plus 0.1% in monthly terms. The September estimate will depend on price dynamics in August on the whole,” the spokesperson said.

The Federal State Statistics Service said earlier on Wednesday that Russia’s consumer prices rose 0.1% from August 16 through Monday.

Economic Development Minister Alexei Ulyukayev earlier did not rule out deflation in August and the first week of September.

The ministry projects inflation of 6.5% in 2016.

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