Inflation Situation in Russia in June
Inflation in Russia rose in June from 8.3 percent the previous month to 8.59 percent. According to Rosstat data, food prices increased by 9.81 percent on an annual basis. During the same period, prices of non-food products increased by 7 percent and prices of services increased by 8.79 percent.
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The Central Bank of Russia has indicated that it may make a significant increase in its policy rate in order to achieve a target of 4% inflation. The bank had kept the policy rate unchanged at 16% at its meeting on June 7.
