Inflation and Monetary Policy in August 2015

Russian Economic Developments. Moscow, 2015, No. 10, pp. 11-14

4 Pages Posted: 1 Nov 2015

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Date Written: October 30, 2015

Abstract

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

Bozhechkova, Alexandra, Inflation and Monetary Policy in August 2015 (October 30, 2015). Russian Economic Developments. Moscow, 2015, No. 10, pp. 11-14, Available at SSRN: https://ssrn.com/abstract=2684150

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

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