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CPI Expected to Increase to +5.90% Y/Y in September

RUSSIA
  • The Russian government is not currently planning to increase the tax burden on oil companies in order to offset budget spending on increasing damper fuel subsidy payments, Deputy Prime Minister Alexander Novak is cited as saying by Interfax.
  • Rising prices and loan rates slowed the used car market in September, Kommersant report. Market participants estimate that sales may have fallen by about 10% compared to August.
  • Meanwhile, export restriction freed up about 1m tons of diesel fuel for the domestic market, according to Kpler’s calculations cited by local newspaper Vedomosti.
  • President Putin and Iraqi Prime Minister Mohammed Shia Al-Sudani will take part in the Russian Energy Week in Moscow. According to Tass, Deputy PM Novak said Russia and Saudi Arabia will discuss the oil market and prices today. CPI data is on the docket this afternoon (Est: +5.90% y/y; Prior: +5.15%).

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