Central Bank: inflation to total 0.5% in Q3; deflation possible in one of the months
MOSCOW. July 11 (Interfax) - The Central Bank of Russia expects inflation of up to 0.5% in the third quarter and does not rule out deflation in one of the three months, Central Bank First Deputy Chairman Alexei Ulyukayev told journalists.
"We expect inflation in the coming three months will total just a little more than zero, up to 0.5%. There could be deflation in one of the months," he said.
Ulyukayev had said previously that the CB is sticking with its second-half inflation forecast of 1.8%, including 1.5% in Q4. He said he expects inflation to be quite low again during the summer months. That will help keep inflation for the year within 7%.
According to Federal State Statistics Service (Rosstat) figures, inflation was 0.1% from June 28 to July 4 and 0.2% for the month of June as a whole. It was 0.1% for two of the four weeks and zero for the other two.
Inflation from the start of the year was 5.1%. It was 0.1% from the beginning of July last year, 4.5% from the beginning of the year, and 0.4% for the month of July.
