Russia’s Inflation Hits Historic Low in October
Written By bne IntelliNews
Russia’s Consumer Price Index (CPI) in October fell again to an extraordinary low of 2.7 percent year-on-year, down from the already low 3 percent in September, the government’s Rosstat statistics agency said on Nov. 7.
Inflation has been overshooting the Central Bank of Russia’s target of 4 percent set for 2017, diving from double-digit price growth in less than two years.
However, the CBR keeps pointing to stubborn inflationary expectations and sticks to moderately tight monetary policy despite the pressure from the government to support growth with lower interest…
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