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. Last Updated: 07/27/2016

Inflation Hits Low

MOSCOW () -- Monthly inflation in Russia dropped to 0.7 percent in July as forecast, the lowest rate since the start of economic reforms in 1992, the State Statistics Committee said Thursday.

The committee said that if such a rate continued, the full-year rate could be 20 percent, compared with 131 percent in 1995. The previous monthly record was June's 1.2 percent.

Food prices in July rose 0.2 percent, non-foods were up 0.9 percent and services 2.3 percent.