16 Jan 2014 11:00

Russian economics ministry puts January inflation at between 0.7%, 0.9%

MOSCOW. Jan 15 (Interfax) - A "preliminary" projection by the Economic Development Ministry puts this month's inflation at between 0.7% and 0.9% compared with the 1% level of January last year, a deputy economic development minister said on Wednesday.

January is always an "inflationary" month, Andrei Klepach told reporters.

"First of all fruit and vegetable produce is going up quite a lot, and milk products keep going up as well though not at an accelerated pace. As for alcohol and tobacco, excise duties are rising there. Urban public transportation fares are also rising. But in principle 0.3% [inflation between January 1 and January 13] isn't bad going," Klepach said.