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  Sunday, September 15, 2019
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Inflation in Russia stood at 0.8% in September compared
Inflation in Russia stood at 0.8% in September compared with the forecast of 0.4-0.6%, reaching 10.6% in January-September, the country's statistics agency said on Monday.

The government's inflation forecast for 2008 is 11.8%.

Officials and experts expected September's inflation level to remain the same as in August which hit 0.4%. Economic Development Minister Elvira Nabiullina earlier told RIA Novosti that September's inflation level would be below the August figures.

However, state officials, in particular, presidential aide Arkady Dvorkovich, admitted the government's decision to dip into national wealth funds to buoy up the stock market had significantly accelerated consumer price growth.

In mid-September, the Central Bank granted $50 billion from the nation's reserves to support the country's financial system.

Most of the funds will be loaned to Russian companies to pay their foreign debts, which totals around $300 billion, the Central Bank said.

Russian companies have encountered problems in obtaining loan extensions or new loans amid global financial woes.

Russia's RTS stock exchange on Monday suspended trading for an hour as of 2:05 p.m. Moscow time (10:05 GMT) as share prices tumbled.

As of 12:41 p.m. Moscow time (08:41 GMT), the benchmark RTS dollar-denominated index had plunged below the psychological 1,000 points level to 945.80 points, 11.69% down on Friday's close of trading.


Print Inflation in Russia stood at 0.8% in September compared Bookmark Inflation in Russia stood at 0.8% in September compared

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