UPDATE: Statistics: Russia’s CPI falls by 0.35% in June

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MOSCOW, Jul 8 (PRIME) -- Russia saw a consumer price deflation for the first time since September 2020 of 0.35% on the month in June, switching from a 0.12% inflation in May, annual inflation fell to 15.9% from 17.1%, the Federal State Statistics Service said on Friday.

Food price deflation has taken place for the first time since August 2021, amounting to 1.1% in monthly terms, and to 17.98% in annual terms, changing from a 0.6% monthly and a 20.05% annual inflation in May. Non-food deflation amounted to 0.41% in the month.

The Economic Development Ministry said that the ruble strengthening and a low consumer activity were the key factors of deflation. Food deflation contributed more than the non-food one to the dynamics. "Besides, in the non-food sector, the price decline accelerated (to 0.41% per month). Nevertheless, a price rise resumed in the services on the back of a tourist services seasonal price growth, and amounted to 0.88% after a price decrease in May," the ministry said.

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