Russian consumer prices up 0.2% ahead of rate decision
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FILE PHOTO: A view of Moscow City International Business District and Moskva river with its embankment illuminated with colorful lights in Moscow, Russia, October 31, 2024. REUTERS/Maxim Shemetov/File Photo
MOSCOW (Reuters) - Russian consumer prices rose by 0.23% in the week to February 10, bringing price growth to 1.53% since the start of the year, compared with 1.55% in the same period of last year, data showed on Wednesday.
Russia's central bank will hold its rate-setting meeting on February 14, with analysts expecting the regulator to keep its key benchmark rate, currently at the highest level since the early 2000s, on hold at 21%.
The central bank expects inflation to slow to 4.5%-5.0% this year as a result of tight monetary policy, from 9.5% in 2024, but the weekly data shows that prices are growing at a rate above the central bank's forecast.
(Reporting by Darya Korsinskaya; Writing by Gleb Bryanski; Editing by Alison Williams)
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