Russia Sees a Slight Decrease in Inflation Rates

In a recent report by the Ministry of Economic Development, Russia's annual inflation rate for the week ending August 4 was recorded at 8.77%, showing a decrease from the previous week's 9.02%. This marks a notable shift in the country's economic landscape.

Weekly Consumer Price Changes

On a weekly basis, consumer prices experienced a decline of 0.13%. The breakdown reveals a 0.34% drop in food prices, while non-food product prices saw a marginal increase of 0.04%. Service prices remained stable, showing no significant change during the same period.

Anticipation for Final July Inflation Figures

All eyes are now on the Russian statistics agency Rosstat, which is expected to release the final inflation figures for July on August 13. These figures will provide a clearer picture of Russia's economic trajectory in the coming months.