Russia's inflation in July continued to slow down

Xinhua News Agency, Moscow, August 10 (Reporter Zhao Bing) A report released by the Russian Ministry of Economic Development on the 10th shows that the annual inflation rate in Russia in July was 15.1%, below 15.9%in June and 17.1%in May.

The report shows that the Russian consumer price index (CPI) in July decreased by 0.39%month -on -month, a decrease of 0.35%in June.The monthly CPI of Russia decreased by 0.18%month -on -month, while the data rose 0.18%month -on -month.

The report pointed out that the slowdown of inflation in the month was mainly due to the continued decline in fruit and vegetable and grain prices, increased non -food prices, and slowing down prices in tourism services.

Due to the relief of inflation pressure, the Central Bank of Russia announced in late July that the benchmark interest rate was reduced by 150 basis points to 8%.The Russian central bank predicts that under the current monetary policy, Russia's inflation rate will drop to 12%to 15%in 2022.

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