World meat industry news

For the first time in the past five years, Russia enjoyed a brief moment of minor deflation in 2016. During the first week of August, consumer prices decreased by 0.1 percent. The previous occurrence was registered in September 2011. To compare, the 2015 inflation level in Russia stood at 12.9 percent.

The easing of inflation pressure on the Russian economy is good news. All other factors being equal, it is expected to speed up the process of bringing the overall inflation level down to 4 percent in 2017. This target was originally identified by the Central Bank of Russia in late 2014, when it intentionally stopped keeping the ruble exchange rate in check.