Russian inflation 0.2% Jan 15-21, 6.8% yoy - Rosstat
MOSCOW. Jan 23 (Interfax) - Russia had 0.2% inflation from January 15-21, compared to 0.1% from January 10-14, the Federal State Statistics Service (Rosstat) reported.
Inflation since the beginning of January was 0.6%. In the same period of 2012, inflation was 0.4% (0.5% for January 2012).
By January 21, year-on-year inflation, including possible rounding, was 6.8%, compared to 6.6% at the end of last year.
Prior to 2012, January prices grew much more quickly. Traditionally, at the beginning of the month, there was an inflationary jump caused by tariff indexation for natural monopoly services. However, starting last year, the government decided to postpone tariff hikes for gas and electricity to July 1.
From January 15-21, prices for vodka rose 1.9%; prices for wheat flour edged up 0.7%; and prices for frozen fish, rice, millet, vermicelli, pasta items and bread increased 0.3%-0.5%. Meanwhile, egg prices were down 0.5%, and prices for chickens, pork and buckwheat declined 0.2%-0.3%.
Food prices averaged up 1.4% for the week, including 2.2%-2.9% growth for carrots, onions and cabbage and 1.6% for potatoes.
Automobile gasoline prices edged up 0.2%, and diesel fuel prices rose 0.4%.
As reported, the Economic Development Ministry has forecast January inflation at 0.7%-0.9% and predicted year-on-year inflation to grow to 6.9%-7%. This information was outlined in the ministry's weekly report on the state of the economy published on Monday.
This year, the Central Bank hopes to keep inflation at 5%-6%. A consensus forecast of analysts polled by Interfax at the end of December projected 2013 inflation at 6.4%.
