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Russia weekly inflation speeds up to 0.4 pct in week to July 3
July 5, 2017 / 1:01 PM / 5 months ago

Russia weekly inflation speeds up to 0.4 pct in week to July 3

MOSCOW, July 5 (Reuters) - Consumer prices in Russia rose 0.4 percent in the week to July 3, after staying unchanged or posting incremental gains of 0.1 percent for several weeks in a row, data from the Federal Statistics Service showed on Wednesday.

The spike in weekly inflation was driven by an increase in utility tariffs that rose on average by 2.3-4.1 percent, depending on the region, the data showed.

Though quicker price growth in weekly terms is likely to lift Russia’s annual inflation reading, it poses little threat to the central bank’s target of bringing annual inflation to 4 percent by the end of the year, analysts say. (Reporting by Andrey Ostroukh; Editing by Alexander Winning)

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