Price growth accelerates in June due to one-off factors
Products and services characterised by volatile price dynamics and administered pricing (petroleum products, fruit and vegetables) became much more expensive. Nevertheless, the rise in measures of underlying inflation was notably more moderate than the acceleration of headline inflation.
Specifically, the increase in non-food prices (except for petroleum products) slowed down, thus containing inflation. Prices for imported used cars, TV, radio and electrical goods, household appliances, communication devices, tools, and equipment continued to go down. Furthermore, prices for imported new cars, personal computers, footwear, apparel, and underwear declined.
The Bank of Russia will pursue its monetary policy to achieve sustainably low inflation.
More details are available in the new issue of the Bank of Russia’s information and analytical commentary Inflation in Russia.