Rosstat has released its regular weekly CPI report (for 1–7 October). It suggests that for the first seven days of the month, consumer prices added 0.11% (vs. 0.18% during the same period of 2012). The average daily growth in consumer prices increased to 0.016% during the reported period, from 0.008% in the previous week.
The recent weekly CPI report implies that the annual growth in consumer prices slowed to 6.0% by 7 October. In other words, it exactly matched the upper boundary of the CBR’s target range for this year. However, it is unlikely to alter the regulator’s
Nevertheless, the acceleration in the weekly CPI was slightly higher than expected, as the increase in the price of eggs (+3.4% WoW, a more than
We suggest that lower production costs will finally filter through into the real economy, being just a question of ‘when’ rather than ‘if’. Hence, we are retaining our view that there is to be strong disinflation ahead, with the