Rosstat

Consumer demand driving Russian economy

Counter-sanctions imposed on food imports and an unprecedented raft of subsidies have made many areas of farming more profitable in Russia [Xinhua]
Consumer demand has driven economic growth in Russia, the Central Bank said on Friday, adding that GDP growth in the first six months should reach between 1.0 and 1.5 per cent.
This is slightly lower than an earlier forecast.
It also cited “further recovery of production activity” and near-record low inflationary expectations.

Russia’s inflation rate plunges in July

This article was first published by RussiaFeed
Rosstat – Russia’s Central Statistics Board – has released figures for inflation at the end of July, which show the fall in inflation in Russia breaking all forecasts.
Prices in Russia grew only 0.1% in July.  In the last week of July prices actually fell.  The result is that the annual rate of inflation at the end of July fell to 3.9% from 4.4% at the end of June, when inflation briefly rose because of seasonal factors.