(Bloomberg) -- Russia’s weekly inflation entered negative territory for the first time since February last year after the central bank raised its key rate to 18% in late July.
Consumer prices in the week through Sept. 2 fell 0.02%, according to data from the Federal Statistics Service released Wednesday.
On July 26, the Bank of Russia increased the key rate by 2 percentage points in an effort to help tame inflation, with policymakers in Moscow warning more hikes may follow this year amid an overheating economy. Officials are due to hold their next meeting on borrowing costs on Sept. 13.
--With assistance from Zoe Schneeweiss.
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