Inflation in Russia has reached 9.5% this year, weekly data shows by Reuters
MOSCOW (Reuters) – Inflation in Russia has reached 9.5% this year, according to new weekly data showing that the consumer price index rose 0.33% in the week to December 23, statistics agency Rosstat reported on Wednesday.
The data follows the central bank’s unexpected decision last week to keep its key interest rate at 21%. The regulator said the recent tightening had created conditions that allowed inflation to reach 4%.
The agency pointed out that seasonal fluctuations in fruit and vegetable prices had a major impact on the overall increase, as cucumber prices rose by 8.3% and tomato prices rose by 1.9% in one week.
Among the most seasonally sensitive foods, the price of eggs increased by 1.7%, and frozen fish by 1.4%. The central bank initially estimated that this year’s inflation reached 8.5%.
Head of the central bank’s monetary policy department Andrei Gangan told Interfax news agency on December 24 that inflation for the whole year will be between 9.6% and 9.8%.
Inflation among households next year also reached 13.9% in December, the highest level since the beginning of the year.
In the report of its research on inflation expectations, the central bank said that the respondents are very worried about the increase in the price of milk, milk products, eggs, meat and fish.
It also said that the respondents have started noticing the increase in the prices of household goods and electrical appliances.
