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RUSSIA: Headline Inflation Expected at +9.00% Y/Y in August (17:00BST)

RUSSIA
  • CPI data is on the docket shortly (17:00BST/19:00 local time), with the headline figure seen rising +9.00% Y/Y in August, down from +9.13% in July. As a reminder, the CBR meet on Friday, with analysts split over whether the central bank will opt for another rate hike or keep its key rate unchanged at 18%.
  • MUFG forecast headline inflation to fall to 8.9% y/y in August, confirming that July was the local peak of inflation. Having said that, they note that the projected fall owes mostly to adverse base effects from last year having dissipated, and that we still have to see a decline in sequential inflation.

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