August inflation to reach 1.8% y/y – development ministry

Consumer inflation rate should reach 1.8 percent growth y/y in August, according to a forecast published by the development ministry. In July the inflation stood at 1.7 percent y/y.

“Compared with July this year, prices should fall by around 0.1 percent, mainly due to a slower decline in food prices, a seasonal fall in clothing and footwear prices and a stabilization of fuel prices. In August, the annual inflation rate will be close to 1.8 percent,” the ministry said.

Most bank analysts expect year-end inflation to be around 1.5 percent y/y, with upside risks due to the possible upward trend in food prices and stabilization of the oil prices by the end of the year.

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