Russian Inflation Steadies as Key Rate Cut Expectations Build

Price growth in Russia halted its acceleration in April for the first time in six months, bolstering the case for kicking off long-awaited monetary easing amid signs of a sharp economic slowdown.

Annual inflation was 10.23% last month, lower than 10.34% in March and the expectations of economists surveyed by Bloomberg, Federal Statistics Service data shows. Thie edging down was in part due to the ruble’s recent gains and record-high interest rates, weighing on the economy.