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Which countries have received Trump's tariff letters? – Statista
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Russian consumer prices jumped to 0.79% growth week-on-week in the week ending July 7, up from 0.07% seen in the previous week, according to the latest data by RosStat. (chart)
As warned previously by bne IntelliNews, inflation was expected to spike in the beginning of July due to the utility tariff indexation that was scheduled for July 1. Utility tariffs rose by more than 10% on average.
Excluding this administrative adjustment, underlying inflation expects to remain modest.
According to economist Dmitry Polevoy cited by The Bell, core inflation stood at just 0.09% for the week, suggesting that price pressures remain subdued and that the Central Bank of Russia (CBR) still has grounds to consider a key interest rate cut at its July meeting.
As followed closely by bne IntelliNews, the board of the Central Bank of Russia (CBR) resolved to cut the key interest policy rate from 21% by 100 basis points to 20% at the policy meeting of June 6, the CBR said in a press release. (chart)
The key interest rate has stayed at a record-high 21% since October 2024.
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