Russia’s CPI falls for the 10th week in a row

The Russian Federal Statistics Service (Rosstat) announced that the consumer price index (CPI) decreased by 0.03% last week.

The CPI fell for the 10th consecutive week, prompting the Bank of Russia to cut interest rates on Friday to boost domestic borrowing.

The decline in the CPI was caused by the fall in food prices, sluggish demand, and the appreciation of the ruble.

However, considering the beginning of 2022, the CPI has rebounded 10.27%.

The CPI rose 2.22% in early March after Russia sent troops to attack Ukraine on February 24.

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