24 Nov 2009 13:06

CB expects annual inflation to continue slowing over midterm

RUSSIA-CB-INFLATION-FORECAST

CB expects annual inflation to continue slowing over midterm

MOSCOW. Nov 24 (Interfax) - The Central Bank of Russia expects annual inflation to slow over the midterm, the bank said in a statement regarding its reduction of the refinancing and other key rates, which was published on Tuesday.

"From November 1 to 16 of this year, the increase in consumer prices in Russia came to 0.2% Annual inflation (consumer price growth other last 12 months) continued to drop and reached 9.5% on November 16, 2009, whereas in the previous year the same figure came to 14.2%. Considering the Bank of Russia's current forecast following this decision, inflation is expected to continue slowing over the midterm perspective," the statement said.