August 23, 2017 / 1:02 PM / 4 months ago

Russian consumer prices steady in week to Aug 21

MOSCOW, Aug 23 (Reuters) - Consumer prices in Russia were unchanged in the week to Aug 21 after declining for three weeks in a row, data from the Federal Statistics Service showed on Wednesday, keeping the door for rate cuts open.

Since the beginning of the year, consumer prices have risen 2.2 percent compared with a 3.9 percent in the same period of 2016.

Falls in inflation, which already hovers near post-Soviet lows, are expected to provide the central bank with more room for monetary policy easing.

Targeting 2017 inflation at 4 percent, the central bank has kept its key rate at 9 percent. The next policy meeting, where it could consider cutting the rate, is scheduled for Sept. 15. (Reporting by Andrey Ostroukh and Zlata Garasyuta; editing by John Stonestreet)

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