By Andrey Ostroukh
MOSCOW-Russia's consumer prices were unchanged in the week to Aug. 4 for the second week in a row after a seasonal decrease in vegetable prices kicked in, data from the federal statistics service showed Wednesday.
Consumer inflation, which have been running at zero for the previous two weeks compared to a weekly rate of 0.1%-0.3% earlier this year, raises the chance that the full-year rise in consumer prices may be closer to the central bank's target of no more than 6.5%.
If the disinflation trend becomes more evident, the central bank is unlikely to back additional policy tightening. It has already raised rates three times since March in an attempt to reign in stubbornly high inflation, underpinned by the weaknessof the ruble, which has been hit hard by Western sanctions over the crisis in Ukraine.
In the period since the start of 2014 to Aug. 4, consumer prices rose by 5.4% compared to 4.5% a year ago.
The weekly figures comes two days after the Federal Statistics Service data showed that annual consumer inflation slowed slightly in July although remained far above the central bank's target rage.
The central bank's next rate-setting meeting is scheduled for Sept. 12.
Write to By Andrey Ostroukh at email@example.com
(END) Dow Jones Newswires
August 06, 2014 08:14 ET (12:14 GMT)
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