The Russian Central Bank confirmed, on Wednesday, that the annual inflation rate has gradually slowed to about 6.2 percent during the first nine months of the current year, compared to previous levels exceeding 10 percent, indicating a continued decline in price pressures in the Russian economy, according to the latest monetary policy report.
The Central Bank explained, in a statement, that the slowdown in inflation supports the approach of price rates to the Bank's target, expecting to reach a range between 4 and 5 percent, while continuing to carefully monitor the developments in prices of goods and consumer services.
