MOSCOW, August 5, 2008 (AFP) - Inflation in Russia slowed in July on a monthly basis, with consumer prices 0.5 percent higher compared with June and 14.7 percent higher over 12 months, official data showed.

In June, prices had risen 1.0 percent on a monthly basis.

In the first seven months of the year, 12-month inflation measured 9.3 percent compared with 6.6 percent in the same period last year, the federal statistics service Rosstat said.

Fighting inflation has been named a government priority and figures among the chief worries of the population.

The finance ministry and central bank have said they expect a fall in inflation in the second half of the year and that inflation at end-2008 would be no higher than the level of last year of 11.9 percent.