Page 70 - RusRPTJul24

4.2 Inflation
Inflation in Russia is expected to slow down in the second half of 2024,
Russian Finance Minister Anton Siluanov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF). "Inflation is still low and it will definitely slow down in the second half of the year," he said.
4.2.1 CPI dynamics
Between May 17 and 21, inflation in Russia was 0.1% compared with 0.11% the preceding week. According to the Central Bank, y/y inflation on May 27 was 8.15% (compared to 7.84% at the end of the previous month).
Weekly price growth rates have stabilized, annual inflation has accelerated to 8.2% According to Rosstat, price growth from May 28 to June 3 amounted to 0.17% n/a, accelerating compared to last week, but remaining within the seasonal trajectory. According to the Ministry of Economic Development, this implies inflation at 8.2% y/y (after 7.8% in April). Weekly price growth rates remained unchanged in the goods sector, but accelerated again in the services sector.
70 RUSSIA Country Report July 2024 www.intellinews.com