July 6, 2017 / 1:48 PM / in 4 months

Russia c.bank says June inflation reading a 'negative surprise'

MOSCOW, July 6 (Reuters) - An inflation reading of 4.4 percent in June was a “negative surprise”, the head of the Russian central bank’s monetary policy department, Igor Dmitriev, said on Thursday.

Dmitriev said the central bank had expected inflation to rise in June from 4.1 percent in May, but not as quickly as it had.

He added that it was too early to say what the chances were of a pause in the central bank’s rate-cutting cycle at its July policy meeting. (Reporting by Elena Fabrichnaya; Writing by Alexander Winning; Editing by Dmitry Solovyov)

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