Russian Inflation Slowed to Record-Low 5.5% in July
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Russia’s inflation rate fell to the lowest level on record in July, indicating the central bank will have scope to keep its benchmark interest rates at all-time lows for a second month.
Inflation slowed to 5.5 percent from 5.8 percent in June, the Moscow-based Federal Statistics Service said on its website today. Consumer prices rose 0.4 percent in the month, the same pace as the month before, it said.The median forecast of 11 economists in a Bloomberg survey was for an annual rate of 5.6 percent.