Russian inflation can meet 4.3pc target set in budget

MOSCOW, Aug 19 (TASS): Inflation in Russia can reach the target value of 4.3 per cent set in the budget as at 2019 year-end if current dynamics is kept, the Accounts Chamber says on Monday in its report on the federal budget performance in January - June 2019.

"Inflation dynamics generally meets expectations and if current trends remain, the forecast value of 4.3 per cent can be achieved, set in the Federal Law [on the federal budget for 2019 and planned period of 2020-2021 - TASS]," the Chamber reports.

"The decline of nonfoods prices growth rate against the high base of 2018 and the seasonal price decline for foods" are main factors limiting consumer prices increase in June, the authority notes.

According to statistics, annual inflation in Russia decelerated to 4.6 per cent in July. Foods prices lost 0.3 per cent in July. Nonfoods prices had an uptick by 0.2 per cent.