Shocking spike in September inflation may feed into Bank … – MENAFN.COM

Shocking spike in September inflation may feed into Bank … – MENAFN.COM

(MENAFN- ING) Russian CPI jumped by a shocking 0.3% in just one week, bringing the inflation rate to 7.3% YoY from 6.7% in August and seriously challenging Bank of Russia's year-end forecast of 5.7-6.2%. Although the central bank downplayed the importance of weekly CPI, our call for a 25 basis point hike in the key rate at the October meeting is becoming optimistic