INFLATION AND MONETARY POLICY IN JULY 2013

In July 2013, the Consumer Price Index (CPI) amounted to 0.8% (against 1.2% in July 2012), which is by 0.4 p.p. higher than its value recorded in June 2013. Over the period from 1 August through 26 August, the CPI rose by 0.1%. Thus, the inflation rate in per annum terms increased above 5.6%. In Q2 2013, according to the Bank of Russia’s preliminary estimates, net capital outflow from Russia reached the level of $ 10bn; on the whole over the first half year of 2013, it amounted to $ 38.4bn, which is by $ 1.7bn below its index for the first half year of 2012.