The Bank of Russia forecasts the annual inflation in July to 4.3%

© RIA Novosti / Natalia to Seliverstova in photobacteria Central Bank of Russia. Archival photoThe Bank of Russia forecasts the annual inflation in July to 4.3%© RIA Novosti / Natalia to Seliverstova the image Bank

The CBR forecasts inflation in July at an annual rate of 4.3% per annum, told journalists the Director of Department of monetary policy of the Bank of Russia Igor Dmitriev.

«Our forecast is that somewhere on 0,1 percentage points may be reduced (inflation — ed.) in annual terms in July… overall, our forecast is now 4.3 percent in July,» said Dmitriev on the sidelines of the International financial Congress.

«While weekly performance is consistent, within the forecast. By indexing all good compared to last year, there are new products on the market,» he said. «New harvest as we speak: will be price increases, then as the harvest will be the normalization of the situation,» — said Dmitriev.

The Ministry also expects inflation in July could be around 4.3 percent, said earlier Friday, Deputy Minister of Finance of the Russian Federation Vladimir Kolychev. The economic development Ministry predicts inflation slowdown in Russia in July to 0,2-0,4% in monthly terms and up to 4-4. 2% per annum.

In June, according to Rosstat, inflation in Russia accelerated to 0.6% from 0.4% in may, while in annual terms — up to 4.4% from 4.1%. In the first half, consumer prices in Russia increased by 2.3%.