Russian cenbank expects monthly inflation close to zero in August

Russia's central bank expects monthly inflation to be close to zero in August, it said in a statement on Friday, Reuters reported.

Taking into account the volatility of prices for fruit and vegetables, there may be deflation in certain weeks this month, it said.

Russia's annual inflation reading fell below the central bank's 4 percent target in July for the first time since the bank switched to an inflation-targeting policy, Federal Statistics Service data showed earlier on Friday.