The monetary base in Russia never ceases to decline

In Russia, the monetary base in narrow definition has decreased from 24 to 31 January 2020 59.7 per billion to 10 trillion 609,1 billion rubles, follows from materials of Bank of Russia.

Recall that a week earlier, the monetary base decreased by 109.2 billion roubles to 22.7 billion rubles, and for the period from 27 December 2019, 10 January 2020 — at 265.3 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 add that, according to Rosstat estimates, consumer prices in Russia from January 28 to February 3 rose 0.1% on the previous week, when they have not changed since the beginning of the year inflation reached 0,5%.

In January 2020, consumer prices in Russia rose by 0.4% the previous month, as in December of last year. While yoy inflation in January slowed to 2.4% after 3% in December.

Last 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%.

The Ministry of economic development forecasts until 2020 the increase in consumer prices at 3%.

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