July 6, 2017 / 1:25 PM / 5 months ago

Russia c.bank: not certain inflation will quicken in July

MOSCOW, July 6 (Reuters) - There is no certainty that inflation in Russia will accelerate this month after high inflation in June, the head of the Russian central bank’s monetary policy department, Igor Dmitriev, said on Thursday.

June inflation measured 4.4 percent year on year, greater than analysts had forecast.

“We need to cut the rate, but we will only be able to understand whether the rate is now high or not in a year’s time,” Dmitriev said in the State Duma, Russia’s lower house of parliament. (Reporting by Elena Fabrichnaya; Writing by Dmitry Solovyov; Editing by Alexander Winning)

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