Russian inflation slows to 2.5pc y/y in Nov

MOSCOW: Russia's consumer price index (CPI) increased 2.5 percent year-on-year in November after rising 2.7 percent in the previous month, the statistics service said on Tuesday.

Russia's annual inflation rate has now reached its lowest level since the fall of Soviet Union and remains well below the central bank's target level of 4 percent.

Record-low inflation provides the central bank with room to cut its key lending rate from the current level of 8.25 percent at a board due on Dec. 15, analysts say.

The year-on-year increase came slightly below a Reuters poll of analysts who predicted annual inflation at 2.6 percent in November.

In monthly terms, November inflation was at 0.2 percent, unchanged from a month ago.