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Russia’s consumer inflation continues growing, thus reaching level of April 2012 - statistics

April 17, 2013, 20:15 UTC+3
Starting from the beginning of the year, the country’s weekly consumer inflation rate was at the level of 0.1 percent almost all the time, the service reaffirmed
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Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, April 17 (Itar-Tass) - Russia’s consumer inflation rate increased by 0.2 percent in the period from April 9 to April 15, 2013, the Federal State Statistics Service said in its regular report made public on Wednesday, adding that the indicator has gone up by 0.3 percent since the beginning of the current month and has grown by 2.2 percent since the beginning of the year.

As for the preceding year, the country’s consumer prices grew by 0.2 percent from April 1 to April 15, the Statistics Service said, adding that the prices gained 0.3 percent over April and 1.7 percent since the beginning of 2012.

Starting from the beginning of the year, the country’s weekly consumer inflation rate was at the level of 0.1 percent almost all the time, the service reaffirmed.

In the period from April 9 to April 15, 2013, the prices of eggs increased by 1.1 percent and the prices of granulated sugar went up by 0.8 percent, the document underlined, adding that average prices of bread, wheat flour, macaroni, vermicelli, smoked sausages, cottage cheese, powdered infant milk food, tea, hard candy, chocolate sweets and vodka grew by 0.2-0.3 percent.

Simultaneously, the prices of buckwheat and poultry went down by 0.4 and 0.3 percent respectively over the designated period, the Statistics Service said.

In addition, the prices of fruit and vegetables went up by 1.4 percent on average across the country, the document wrote, adding that the prices of potatoes increased by 3.4 percent, prices of carrots grew by 2.7 percent, prices of onions went up by 2.7 percent and prices of cabbages edged up by 1.9 percent.

In the week from April 9 through to April 15, the country’s average prices of gasoline remained unchanged versus the previous week, while prices of diesel fuel decreased by 0.1 percent, the statistics 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.

At the beginning of the week, the Russian Economic Development Ministry put on display its updated inflation forecast for April, under which the country’s inflation will be at 0.4-0.5 percent, as compared to 0.3-0.5 percent (as it was projected a week ago).

According to the ministry, Russia’s inflation will gain from 2.3 to 2.4 percent from the beginning of the year through to April 30 and 7.1-7.2 percent in the current month as compared to April 2012, when it amounted to 0.3 percent. In January-April 2012, the country’s consumer inflation rate amounted to 1.8 percent.

In March 2013, Russia’s consumer inflation rate slid down to 0.3 percent, as compared to 0.6 percent in February, the Economic Development Ministry underlined, adding that the index mounted to 0.6 percent in March 2012.

In addition, both the Russian Ministry of Economic Development and the Central Bank of Russia stated earlier that this year’s inflation will be at five to six percent. Moreover, Deputy Economic Development Minister Andrei Klepach was confident that Russia’s inflation in 2013 would be closer to six percent, than to five percent. In addition, earlier the ministry and the Central Bank expressed common stance on the hike of the consumer inflation rate above the target in the first half of the year.

In 2012, the country’s inflation rate reached 6.6 percent.

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