Russian consumer prices fell for The ninth week in a row, data showed Wednesday, thanks to my season drop in Fruit and vegetable prices, slow consumer demand and the strength of the ruble over The past few months.
Consumer price The index (CPI) decreased by 0.13%. in The Federal Statistics Service Rosstat said the week ending September 5, after falling 0.16% a week ago on Wednesday.
Annual inflation slowed to 14.08% of September 5 from 14.31% in the previous week, the economy Ministry said.
The inflation pattern may open the door to cutting in Center bank’s key benefit rate as such soon as such next week. Reuters poll of Central economists forecast bank will cut it key rate to 7.5% from 8% on September 16 board Meeting.
Despite the recent increasing declines in CPI, Prices for Almost everything, from milk and sugar to clothes and smartphones, has gone up since February 24 when Russia sent dozens of in thousands of forces in Ukraine.
In the year so far, prices for Foreigner-made Cars, sanitary napkins and soap jumped by about 40%, with CPI address up 10.24% compared with 5.32% increase in same period of 2021, Rosstat data showed.
President Vladimir Putin said on On Wednesday, inflation was expected to reach 12% this year.
High inflation was a key interest for families for years because they reduce their spending power and living standards, this year It will be exacerbated by the recession in The economy.
Putin said economy It will shrink by about 2% this yeara deeper contraction than previously thought, as Russia weathered the worst impact of Western sanctions.
