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. Last Updated: 07/27/2016

Inflation Dips to 1.2%

MOSCOW () -- Monthly inflation dipped to 1.2 percent in June from 1.6 percent in May, another post-reform low, First Deputy Prime Minister Vladimir Kadannikov said.

Speaking during a trip to the coal-mining region of Kemerovo, Kadannikov said Monday that the government aimed to hold annual inflation under 25 percent for 1996, Interfax reported.

Russia promised the International Monetary Fund that monthly price rises would be brought below 1 percent by the end of the year, down from more than 4 percent at the start of 1996 and from almost 18 percent in January 1995.