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Inflation And Monetary Policy In August 2015

Author

Listed:
  • Alexandra Bozhechkova

    (Gaidar Institute for Economic Policy)

Abstract

The Russian currency in July-August saw further substantial depreciation in the exchange rate. The weakening of the ruble resulted largely in higher inflation and retained the central bank base rate at the level which was set in September at a meeting of the Central Bank Board of Directors. The Consumer Price Index (CPI) in August kept increasing up to 0.4% (0.2% in August 2014), reaching the August-end highest value for the first time since 2010, when the CPI gained 0.6%. Price growth rates accelerated most during the last week of August, when the CPI gained 0.2%. In the fi rst three weeks of September consumer prices saw another hike of 0.5%.

Suggested Citation

  • Alexandra Bozhechkova, 2015. "Inflation And Monetary Policy In August 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 10, pages 11-14, October.
    • Handle: RePEc:gai:recdev:591
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY;

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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