Food (+1.9% mom) and non-food products (+1.9% mom) had the main impact on consumer price growth against the background of the depreciation of the national currency (2.7% mom). The annual inflation rate in June accelerated to 14.5% from 14.0% in May and reached its maximum reading since autumn 2016. The combination of pro-inflationary factors on the demand side and supply shocks, along with the persistence of geopolitical tensions in the world, will continue to put pressure on consumer inflation rates in the second half of this year.
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