Consumer Prices Stagnate

Aug. 17, 2012

Consumer prices were flat in the week ending Aug. 13 after rising 0.1 percent in each of the two preceding weeks, the State Statistics Service announced.

Since the start of the year, consumer inflation has reached 4.6 percent, compared with 4.9 percent in the same period of 2011.

Last week the Central Bank sent the strongest signal so far this year that monetary-policy tightening may lie ahead if inflation risks from food prices increase. At its monthly meeting, the bank kept its main interest rates unchanged.

The Central Bank aims to keep full-year growth in consumer prices within its target of 5 to 6 percent, after inflation hit a post-Soviet record low of 6.1 percent in 2011.

The Reuters monthly poll showed in late July that the full-year rise in the consumer price inflation index is seen at 6.6 percent.

(Reuters)

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