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Russia’s consumer prices slightly grow on October 11-17 – statistics

October 19, 2011, 20:01 UTC+3
Touching upon last year’s indicators, the Statistics Service reaffirmed that the country’s inflation had reached 6.7 percent by October 17 since the beginning of 2010
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MOSCOW, October 19 (Itar-Tass) —— Russia’s inflation has increased by 4.8 percent by October 17 since the beginning of the year, the Federal State Statistics Service said in a regular report on Wednesday.

The country’s consumer prices went up by 0.1 percent in the week from October 11 to October 17 after four weeks of the zero inflation level, the report said, adding that the inflation has grown by 0.1 percent since the beginning of October.

This year, the Statistics Service registered four times a 0.1-percent weekly deflation. Every time, the dynamics of consumer prices returned to the zero level, the service’s report said.

Up to October 10, the level of Russia’s consumer prices remained unchanged for the fourth week in row against the background of the continued decline of prices for millet, buckwheat, granulated sugar, and fruit and vegetables.

Touching upon last year’s indicators, the Statistics Service reaffirmed that the country’s inflation had reached 6.7 percent by October 17 since the beginning of 2010. Besides the indicator was at 0.4 percent in the first seventeen days of the same month, and made up 0.5 percent in October 2010.

The Russian Ministry of Economic Development forecasts that the country’s inflation may be at 0.3-0.5 percent this October.

At the same time, in the week from October 11 to October 17, 2011, the Statistics Service reported the most considerable hike in prices for cheese (by 0.6 percent) and for eggs (0.5 percent).

Besides, retail prices of cottage cheese, butter, various sorts of sausages increased by 0.3-0.4 percent, average beef prices and average frozen fish prices went up by 0.2 percent, as well as average prices of pasteurised milk, and rye and rye-wheat combined bread edged up by 0.1 percent, the service’s report said.

In the period under review, the Statistics Service reported the continued decreasing of average prices for millet (4.4 percent) and buckwheat (2.7 percent), as well as for granulated sugar (1.1 percent) and wheat flour (0.4 percent).

In the designated period of 2011, average prices of fruit and vegetables went down by 1.2 percent, including prices of onions went down by 2.3 percent, prices of potatoes shrank by 1.7 percent and carrot prices dropped by 1.4 percent.

In the period from October 11 to October 17, average prices of gasoline edged up by 0.2 percent, and diesel fuel prices grew by 0.9 percent, the Statistics Service said in its report.

In addition, charges for heating supplies increased by 0.2 percent in the week from October 11 to October 17, 2011, the report said.

The report was drafted on the basis of weekly monitoring of retail prices for 62 socially important goods and services, which the Federal State Statistics Service carried out in 271 Russian cities and towns.

In September 2011, Russia’s consumer prices remained unchanged, while it was report a bit decline of prices in the country in August, according to the official reports.

The Russian Ministry of Economic Development forecasts that the country’s inflation may be at 0.3-0.5 percent this October.

According to the official forecasts, this year’s inflation is projected at the level of 6.5 percent to 7.5 percent. However, an official representative of the Economic Development Ministry said that the country’s inflation will be at 6.5 percent this year.

At the same time, the Economics Ministry’s updated forecast, which is now under the coordination at the federal ministries and agencies, envisages that the indicator will be between 6.5 percent and seven percent. Initially, this year’s inflation was projected at seven to eight percent.

Russia’s inflation rate increased by 8.8 percent in 2010.

 

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