Volatile components driving weekly inflation in Russia, stable components at summer level - Nabiullina

MOSCOW. Oct 9 (Interfax) - Weekly inflation in Russia has accelerated due to volatile components like fruits and gasoline, while stable components are at their summer level, even just below the August level, Central Bank of Russia Governor Elvira Nabiullina said at a press conference during the CBR's Finopolis forum.

She reiterated that weekly data were not so indicative for the Central Bank, which focuses more on monthly data, to be published on Friday.

"We have always emphasized, and I want to emphasize it now, that weekly inflation indicators are not very indicative, because these is still not for a very wide range of goods and services. We pay lot of attention to monthly prices, and [Rosstat] data on inflation [for September] will be released this Friday," she said.

"But even as regards the weekly rate of price growth over the past four weeks, we can say the following: this mainly reflects elevated growth for volatile components - for fruits and vegetables, for gasoline. We do not see elevated growth for the stable components of inflation that are reflected in the weekly indices. They [growth rates for stable component] are approximately at the average for the summer months, perhaps even slightly lower than in August. We will look at the monthly data, these tell us more," Nabiullina said.