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Russia Inflation Dips to Post-Invasion Low With Steeper Slowdown

  • Russian annual inflation fell to slowest since invasion
  • Central bank has cut rates but risks to prices may soon emerge
A worker picks a fresh lettuce for an order inside a Moscow grocery store.

A worker picks a fresh lettuce for an order inside a Moscow grocery store.

Photographer: Andrey Rudakov/Bloomberg
Updated on

Russian inflation eased more than forecast to the lowest since President Vladimir Putin’s invasion of Ukraine, after consumer prices declined in consecutive weeks thanks to a stronger ruble and a seasonal drop in the cost of fruit and vegetables.

The third straight month of deceleration took annual inflation to 15.1% in July from 15.9% in June, the Federal Statistics Service said on Wednesday. The median forecast in a Bloomberg survey of 16 economists was for 15.3%.