Bank of Russia says deflation in September is "atypical"

Sat 07 October 2017 05:57 GMT | 09:57 Local Time

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Deflation in Russia in September 2017, according to the Federal Statistic Service, was at the level of 0.1%.

"The decline in consumer prices is not typical for September, and this year it is associated with a whole range of factors: the later harvesting of vegetables, the record harvest of many crops, and the restrained consumer activity of the population," the official explains.

"The Bank of Russia constantly assesses the current economic situation and the impact of one-time and long-term factors on the inflation forecast, the dynamics of inflation expectations. An updated forecast will be published in the December report on monetary policy, "the spokesman said.

Deflation in Russia in September 2017, according to the Federal Statistic Service, was at the level of 0.1%, in annual terms, consumer price growth slowed to 3%.

In the reporting period, by August, the decline in food prices was 0.7% (excluding fruits and vegetables - prices for them did not change), the prices of non-food products increased by 0.3%, prices of services - by 0.1%.

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