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Russia’s consumer inflation rate reaches 5.5% as of November 11

On Wednesday, Economic Development Minister Alexei Ulyukayev forecasted that this year’s inflation rate might exceed the target of 6%

MOSCOW, November 15. (ITAR-TASS) - Russia’s consumer inflation rate amounted to 0.1% in the week from November 6 through November 11, the Russian State Statistics Service says in its regular report.

Russia’s consumer prices have grown by 0.2% since the start of November and reached 5.5% since the beginning of the year, the report underlined.

In 2012, the consumer prices growth was at 0.2% on November 1-11, amounting to 5.9% on January 1 - November 11. The growth rate accounted for 0.3% in November.

On Wednesday, Economic Development Minister Alexei Ulyukayev forecasted that this year’s inflation rate might exceed the target of 6% and most probably will be at about 6.1% by December 31, 2013.

On November 6-11, the Statistics Service registered the ongoing growth of egg prices at 2.8%. In addition, cheese prices went up by 0.8 % and prices of sour cream, cottage cheese, pasteurised milk and butter grew by 0.4-0.6%.

Simultaneously, prices for granulated sugar decreased by 0.7%; while prices for vermicelli, macaroni, buckwheat, sunflower oil and lamb slid down by 0.2-0.4%, the statistics noted.

Besides, prices of fruit and vegetables decreased by 0.7% on average across the country. However, prices of potatoes went up by 0.8%, as well as prices of cabbage, onions and carrot edged up by 0.1-0.3%. In the mean time, apple prices went down by 0.3%.

In the designated period, the Russian State Statistics Service registered no growth of average petrol prices, while diesel fuel prices increased by 0.3%.