The monetary base in Russia began to decline

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Денежная база в России стала сокращаться

In Russia, the monetary base in narrow definition has decreased over the period 18 to 25 October 2019 at 118,9 billion to 10 trillion 567 billion rubles, follows from materials of Bank of Russia.

A week earlier, the volume of narrow monetary base grew by 45.5 billion to $ 56.5 billion, even earlier — at 21.5 billion rubles.

The monetary base in narrow definition includes the released cash (taking into account balances in tills of credit institutions) and balances on accounts of compulsory reserves by attracted by credit organizations resources in the national currency, deposited in Bank of Russia.

Recall also that, according to Rosstat, consumer prices in Russia for the period from 22 to 28 October 2019 has not changed after rising 0.1% the previous week, and the beginning of the year inflation remained at 2.4%.

In September consumer prices in Russia decreased in September, 2019, by 0.2% in comparison with the previous month, in August. While yoy inflation in September slowed to 4% from 4.3% in August.

In 2018, consumer prices in the country increased by 4.3% (December to December 2017), and a year earlier the inflation rate was recorded at the historical low level of 2.5%.

The Ministry of economic development (MED) of the Russian Federation, according to the updated forecast, expects inflation to end the current year at the level of 3.8% instead of 4.3%. For 2020 the increase in consumer prices is expected at level of 3%. The Bank of Russia forecasts annual inflation at year end in the range of 3.2-3.7 percent.

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