Russian central bank governor Nabiullina said the acceleration in inflation is temporary.

July 24 — Zhang Xingwang, deputy minister of Agriculture and Rural Affairs, told a State Council press briefing that summer grain is the first season of annual grain production and accounts for roughly 20% of annual grain output. Summer grain makes up nearly half of China’s staple grain (primarily wheat and rice); a strong summer harvest is therefore critical to ensuring food security for 1.4 billion people and gives China greater control over annual grain supply.

Bank of Russia baseline scenario assumes the key rate will average 14.5–14.6% in 2026 and 10.5–12.5% in 2027.