MOSCOW, August 9. /TASS/. The Bank of Russia registers a high weekly rise in prices, stating that it is connected with the ruble’s exchange rate fluctuations and the growth of domestic demand, the regulator’s Deputy Governor Alexey Zabotkin said in an interview with Izvestiya daily.
"We currently see high weekly increases in prices, which is largely connected with the rate’s fluctuations, though an active growth of domestic demand in recent months is equally important," he said.
The speed of the rate’s transfer to prices depends on the product group, Zabotkin noted.
Central Bank Governor Elvira Nabiullina said earlier that the ruble’s weakening is a notable factor for price growth, but not the key one at the moment, adding that the demand’s excess over possible expansion of supply is the critical factor for the Bank of Russia.
On August 8, the dollar exchange rate on Moscow Exchange reached 96 rubles, while the euro exchange rate surpassed 106.5 rubles. The dollar has increased by almost 4% against the ruble since early August, while the euro and the yuan have added roughly 2%.