Inflation in Russia for a week from 22 to 28 September 2009 amounted to zero percent, the report says Rosstat. Since the beginning of this month, consumer prices have not changed. According to preliminary estimates Rosstat, up to September inflation will be zero percent, the same as in August this year.

Since the beginning of 2009 consumer prices rose by 8.1 percent. In connection with the slowdown in consumer prices the Ministry of Economic Development of Russia has lowered its inflation forecast for 2009 from 11.6 to 11 percent. September 30, 2009 the Central Bank of Russia chairman Sergey Ignatiev said that the rise in consumer prices in the country in 2009 could be substantially below 11 percent.

addition, Ignatiev also noted that the central bank will continue its policy of lowering the refinancing with a decrease in inflation. As inflation will decline, and the rate will decrease, - said Ignatiev. On September 30, 2009 the Central Bank for the seventh time since the beginning of the year reduced the refinancing rate. The rate was reduced by 0.5 percentage points to 10 per cent per annum. The last time the rate was reduced on 15 September.

According to Rosstat week from 22 to 28 September, most of all risen in price eggs - by 0,3 percent. The cost of buckwheat and infant formula has increased by 0,2 percent. Hardest cheaper sugar and frozen fish - by 0,5 percent. Prices of wheat, flour and sunflower oil declined on average by 0,2-0,3 percent.

In July 2009, the first deputy chairman of the Central Bank of Russia Alexei Ulyukayev said he expected in August of deflation. He added that in July, inflation should be zero. Both forecasts were not justified: in July, consumer prices rose by 0.5 per cent, and in August was recorded zero inflation. In 2008 consumer prices rose by 13.3 per cent.

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