Inflation and Monetary Policy in August 2015
Russian Economic Developments. Moscow, 2015, No. 10, pp. 11-14
4 Pages Posted: 1 Nov 2015
Date Written: October 30, 2015
The Russian currency in July-August saw further substantial depreciation in the exchange rate. The weakening of the ruble resulted largely in higher inflation and retained the central bank base rate at the level which was set in September at a meeting of the Central Bank Board of Directors. The Consumer Price Index (CPI) in August kept increasing up to 0.4% (0.2% in August 2014), reaching the August-end highest value for the first time since 2010, when the CPI gained 0.6%. Price growth rates accelerated most during the last week of August, when the CPI gained 0.2%. In the first three weeks of September consumer prices saw another hike of 0.5%.
Keywords: Russian economy, inflation, monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation