June surge did not affect the annual forecast of the Ministry of Finance on inflation

Moscow. July 12. INTERFAX.RU – the Finance Ministry keeps inflation forecast for 2017 unchanged despite a jump in this indicator in June. Inflation in Russia in June accelerated to 0.6% after 0.4% in may, 0.3% in April and 0.1% in March, while the annual rate amounted to 4.4%, considerably removed from the target of the Central Bank (4%).

According to Finance Minister Anton Siluanov, in the future, the effect of the June spike will be smoothed.

“This year, a cold summer, indeed, those cheaper foods, primarily vegetables, which usually begin in June-July, they slightly moved to a later date,” said the Minister in an interview to “Russia-24”.

“Therefore, inflation in June increased slightly. We believe that it will all be neutralized, and our scores are still in the current year remain at about 4%, even lower,” – said Siluanov.

Earlier on Wednesday, Rosstat reported that the price of fruit and vegetables for the week from 4th to 10th of July fell 0.7%. This is the first time in nearly 4 months – the last time a decline was recorded in the period from 14 to 20 March. A year ago, “vegetable deflation” began in June, and in the same week amounted to 1.9%.