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Russia’s consumer inflation rate continue growing

August 22, 2012, 20:10 UTC+3
The Statistics Service reported deflation at 0.1 percent as of the same date of 2011 and 0.2 percent over the month in general
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MOSCOW, August 22 (Itar-Tass) —— Russia’s inflation rate went up by 0.1 percent over a week from August 14 to August 20, the Federal State Statistics Service said in a regular report on Wednesday, adding that the indicator has grown by 4.7 percent since the beginning of the year and has gone up by 0.2 percent since the beginning of the current month.

Touching upon last year’s indicators of the current period, the Statistics Service reaffirmed that the country’s inflation had grown by 4.9 percent by August 20 since the beginning of 2011. Besides, the Statistics Service reported deflation at 0.1 percent as of the same date of 2011 and 0.2 percent over the month in general.

In the week from August 14 to August 20, the country’s average prices of flour went up by 1.4 percent, poultry prices grew by 1.1 percent, the document wrote, adding that prices of bread, macaroni, vermicelli, millet, rice, vodka and lamb edged up by 0.4-0.7 percent.

In the period under review, the Statistics Service reported that the prices of fruit and vegetables decreased by 3.5 percent on average across the country. In particular, average prices of onions dropped by 3.5 percent, prices of cabbage went down by 5.3 percent, prices of potatoes decreased by 4.7 percent and prices of carrots slid down by 4.6 percent.

In the week from August 14 to August 20, the consumer prices of gasoline edged up by 0.2 percent and prices of diesel fuel went up by 0.3 percent, the Statistics Service said in its report.

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.

Initially, the official forecast of the country’s inflation rate was established at five to six percent, while several officials believe that the indicator may be more than the initial projection.

In 2011, Russia’s inflation was the lowest over the past 20 years (6.1 percent).

 

 

 

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