MOSCOW (Sputnik) — Yearly inflation in Russia slowed down to 6.8% against 7.2% in July, while August saw zero inflation, the Federal Service for State Statistics reported on Monday.
According to the service, the Consumer Price Index in August was at zero while taken on a yearly basis it was at 103.9%, which equates to a decline in inflation compared to 2015 of 100.4% and 109.8% respectively.
In early August, the Russian Ministry of Economic Development indicated that 0.2% deflation could be possible in the month with 6.7-7% annual inflation. Deflation in August and the first week of September cannot be ruled out, Minister of Economic Development Alexey Ulyukaev said.
The Ministry of Economic Development does not expect inflation to surpass 6%, provided the market environment does not change.
