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Russia’s inflation slows to 5.1% in annual terms in May, Central Bank reports

The slowdown was due to a decline of growth rate of non-food products prices, the regulator explained

© Gavriil Grigorov/TASS

MOSCOW, June 17. /TASS/. Inflation in Russia in May 2019 slowed 0.1 percentage points (pp) compared with April and amounted to 5.1% in annual terms, according to the Russian Central Bank.

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"In May 2019, annual inflation once again decreased by 0.1 percentage points and amounted to 5.1%," the regulator said.

The slowdown was due to a decline in the growth rate of non-food product prices, primarily due to the high base effect on the motor fuel market, the regulator explained.

At the same time, the monthly growth of consumer prices net of seasonal factors in May accelerated by 0.1 percentage points to 0.4%, due to an increase of the rate of rise in food prices. The growth rates of prices for services decreased, non-food products remained at the lowest level since August last year.

According to the forecast of the Central Bank, the annual inflation in 2019 will be 4.2-4.7%. In the future, it will be near 4%.

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