The monetary base in Russia began to decline

In Russia, the monetary base in narrow definition has decreased from 19 to 26 June 2020 by 28.7 billion rubles to 12 trillion 752,9 billion rubles, follows from materials of Bank of Russia.

Recall that a week earlier, the monetary base grew by 61.2 per billion roubles, before — 161,6 billion rubles, even earlier — by 179,9 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.

We also add that, according to Rosstat estimates in may, consumer prices in Russia rose 0.3% the previous month, when they rose 0.8%. While yoy inflation in may slowed to 3% after 3.1% in April.

Over the past year, consumer prices rose by 3% (December to December 2018). Thus, 3-percent inflation rate in 2019 was the second lowest value of this indicator for all history of modern Russia. The absolute minimum was recorded at the end of 2017 and 2.5% in 2018, prices increased by 4.3%.

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