Russian rouble stronger, consumer prices falling

Robert Besser
25 Jun 2022, 17:48 GMT+10

Russia's consumer price index has fallen by 0.12 percent for the third consecutive week
This drop in the consumer price index gave the Russian central bank more room to reduce rates and limit this year's economic downturn
Data from the federal statistics service Rosstat reports that consumer prices in Russia increased by 11.51 percent this year

MOSCOW, Russia: Russia's consumer price index has fallen by 0.12 percent for the third consecutive week.

This drop in the consumer price index gave the Russian central bank more room to reduce rates and limit this year's economic downturn.

Meanwhile, data from the federal statistics service Rosstat reports that consumer prices in Russia increased by 11.51 percent this year.

Due to the rouble's rapid recovery and a drop in consumer demand, annual inflation has slowed recently and, in weekly terms, the consumer price index declined 0.14 percent from one week earlier.

After weekly inflation peaked at 2.22 percent in early March following the start of Russia's invasion of Ukraine on 24th February, Russia recorded a weekly drop in inflation for the first time since August 2021.

Amidst uncertainty related to external risks, such as the Western embargo on Russian oil, inflation has been slowing, even after the central bank cut its key interest rate earlier in June to the pre-crisis level of 9.5 percent, keeping the door open to further easing.

Due to logistical disruptions and increased volatility in the rouble, prices of almost all items, from vegetables and sugar to clothing and smartphones, have risen sharply in Russia since the start of the Ukraine invasion.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Antonio Post.

More Information

94 ℉

Fair in San Antonio/Kelly

Texas

Section

Migrant surge has pushed El Paso to 'breaking point', says mayor

EL PASO, Texas: Over the weekend, Oscar Leeser, Mayor of El Paso, said that the surge in migrants crossing the ...

US children, age 10, 11, stopped while driving 200 miles from home

GAINESVILLE, Florida: Local police report stopping children, ages 10 and 11, who had driven their family car 200 miles, in ...

A'ja Wilson, Aces go for sweep against Wings

(Photo credit: Candice Ward-USA TODAY Sports) The Las Vegas Aces will look to finish off the Dallas Wings and advance ...

Kyrie Irving: Mavericks return was 'No. 1 on my list'

(Photo credit: Kevin Jairaj-USA TODAY Sports) Calling himself and Luka Doncic "killers on the court," Kyrie Irving expressed gratitude over ...

5-star prospect Terry Bussey picks Texas AM

(Photo credit: Maria Lysaker-USA TODAY Sports) Five-star prospect Terry Bussey, a potential two-way college player, committed to home-state Texas AM ...

Report: San Francisco to host 2025 NBA All-Star Game

(Photo credit: Cary Edmondson-USA TODAY Sports) San Francisco's Chase Center is reportedly the front-runner to host the 2025 NBA All-Star ...

International

Section