Russia's annual inflation accelerated to 5.6 percent in July from 4.3 percent in June, the Federal Statistics Service said Friday.
Month-on-month, consumer prices climbed 1.2 percent, faster than the 0.9 percent increase a month ago.
The central bank maintained its key rate at 8 percent for the seventh successive month in July. The central bank aims to keep inflation at or below 6 percent.
Considering recent domestic and international macroeconomic developments, the bank said the current level of interest rates is appropriate for the near future.
The International Monetary Fund on Thursday recommended a gradual further tightening of monetary policy to contain underlying pressures and anchor expectations. The lender also urged Russia to adopt ambitious fiscal consolidation path to reduce overheating pressures.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.