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RUSSIA'S ECONOMY

Russia’s inflation hits 6-year high of 11.4% in 2014 — Rosstat

In December 2014, Russia’s consumer prices rose by as much as 2.6% compared with just 0.5% in December 2013, Rosstat said

© Artyom Geodakyan/TASS

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MOSCOW, January 12. /TASS/. Russia’s inflation reached 11.4% in 2014, its highest level since 2008 when consumer prices rose by 13.3%, according to a final estimate released by the State Statistics Service (Rosstat) on Monday.

In December 2014, Russia’s consumer prices rose by as much as 2.6% compared with just 0.5% in December 2013, Rosstat said. Russia’s inflation stood at 6.5% in 2013.

According to Rosstat data, the prices of goods grew by 2.8% in December 2014, including food prices by 3.3%, food prices excluding vegetables and fruit by 2.2% and non-food prices by 2.3% while service charges increased by 2.2%.

The highest increase in the consumer prices of goods and services in December 2014 was registered in the Khabarovsk Territory in the Far East, the Oryol Region in central Russia, the westernmost Kaliningrad Region and the North Caucasus republics of Ingushetia and Chechnya, which showed a price growth by 4-5%, Rosstat said.

Consumer prices grew by 2.8% in December and by 11.7% since the start of the year in Moscow and by 3.5% and 13.3%, respectively, in St. Petersburg, the Rosstat data said.

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