Russia consumer prices unchanged

MOSCOW: Russia's consumer prices remained unchanged in the week to July 11 after rising 0.1 percent in the previous period, the Federal Statistics Service said on Wednesday.

This keeps inflation since the start of the year at 5.1 percent compared to 4.6 percent in the same period of 2010.

Foodstuff prices drop traditionally during the summer months when domestic production increases, and this year's weather has been supportive of growth so far, promising good supply of locally produced fruit, vegetables and grain.

The latest data showed that prices for grain-related products have already started to fall, with prices for buckwheat flour - very popular in Russia falling 0.4 percent on the week and regular flour declining 0.1 percent.

Prices of fruit and vegetables fell on average by 0.5 percent, the Statistics Service said in a statement.

In June, Russia's consumer prices rose 0.2 percent, at their slowest pace since October 2009, moderating year-on-year inflation to 9.4 percent and supporting the central bank's recent pause in raising interest rates.

Copyright Reuters, 2011