Decrease in consumer prices slows down in August
In August, consumer prices (seasonally adjusted) continued to trend downwards, but at a much slower pace. This suggests that the adjustment of the market after the March surge in prices is completing and, in these conditions, sellers’ and producers’ increased costs are putting pressure on prices to a greater extent.
Nevertheless, the expansion of domestic food supply, the pass-through of the ruble strengthening to prices, and moderate consumer sentiment among households continue to contain price growth. Annual inflation has been decelerating for the fourth consecutive month to equal 14.3%.
The monetary policy pursued will create conditions for a further decrease in annual inflation to
More details are available in the new issue of the Bank of Russia’s information and analytical commentary Consumer Price Dynamics.