Inflation in Russia in June accelerated to 0.6%

Inflation in Russia in June accelerated to 0.6%

Moscow. July 6. INTERFAX.RU – Inflation in Russia in June 2017 was 0.6% after 0.4% in may, 0.3% in April, 0.1% in March, 0.2 percent in February, 0.6 percent in January and 0.4% in December, November and October 2016, follows from the data of Rosstat, published on Thursday. In January-June 2017 prices rose 2.3%.

In annual terms inflation in June 2017, according to Rosstat, rose sharply to 4.4% from 4.1% in may and April, 4.3% in March, 4.6% in February and 5.0% in January and 5.4% in December.

Inflation was above expectations of analysts and economic development. The consensus forecast of economists on inflation for June, prepared by “Interfax”, was equal to 0,5%. The economic development Ministry had expected annual inflation in June at 0.3-0.4 percent.

The base consumer price index, which excludes price changes for certain goods is affected by factors which are administrative, and also seasonal nature, in June fell to 3.5% yoy from 3.8% in may, indicating the seasonal nature of the acceleration in prices associated with rising prices of fruits and vegetables.