Russia Notches Long-Awaited Win in Fight Against Inflation

Monthly price growth in Russia slowed significantly in June, the first meaningful sign that the central bank’s battle against inflation may be turning a corner after a protracted period of ultra-tight monetary policy.

While the annual inflation rate remains at 9%, well above the central bank’s 4% target, current price growth now aligns with that goal after decelerating from the previous month, according to data from the Bank of Russia.