Rus­sia’s an­nual in­fla­tion rises to 7.5%

China Daily (Canada) - - BUSINESS -

Rus­sia’s in­fla­tion rose to 7.5 per­cent year-on-year in June from the same month a year ago, com­pared to 7.3 per­cent year-on-year in­May, the Rus­sian State Statis­tics Ser­vice said. Monthly in­fla­tion stood at 0.4 per­cent, un­changed from the pre­vi­ous month, it said in a re­port. Rus­sia recorded a dou­ble-digit an­nual in­fla­tion rate through­out last year due to crum­bling oil prices cou­pled with the im­pact ofWestern sanc­tions. Price hikes have only abated in re­cent months. The coun­try’s cen­tral bank low­ered its key in­ter­est rate by 0.5 per­cent­age points last month to 10.5 per­cent.

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