MOSCOW (Reuters) - EMBARGO 1730 GMTInflationary pressure remains high in Russia, the central bank said in a report on Monday, but there are signs that some pressure is easing and annual inflation will start to fall in the autumn. In June, annual inflation accelerated to 6.5%, its fastest rate since August 2016, providing Russia with a strong argument to raise rates at its next rate-setting meeting on July 23 and adding to concerns that tighter monetary policy might hamper economic growth. The central bank on Monday said inflation would return to the 4% target in the second half of 2022 and remain near that level in the future. Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Chris Reese Our Standards: The Thomson Reuters Trust Principles.