Inflation in Russia 0.1% July 24-30 - Rosstat
MOSCOW. Aug 1 (Interfax) - Inflation in Russia was 0.1% for the week July 24-30, the Federal State Statistics Service (Rosstat) reported on Wednesday.
Inflation was 1.2% July 1 to 30, and 4.5% January 1 to July 30 this year, versus a respective 0% and 5% last year.
More substantial price growth was seen before the last week of July. From June 26 to July 2, Rosstat saw an 0.8% surge in prices, which was associated with the indexation of regulated tariffs. Prices rose 0.3% from July 3 to 9, and 0.2% for the subsequent two weeks.
Last week saw a continuation of rising charges for the types of residential and communal services tracked. The cost of living space in state and municipal residential buildings rose 0.5%, heating, water, and sewage 0.6%-0.8%, and electricity 0.2%.
The last week of July brought drops in fruit and vegetable prices that averaged 0.7%, including 2.2% for potatoes and 1% for cabbage.
Prices for vodka and granulated sugar rose 0.8%, for rice, flour, and chicken - 0.5%-0.6%, for vermicelli - 0.3%. But buckwheat groats slipped 0.2% in price, eggs, sour cream, and milk 0.1%.
Automotive gasoline and diesel fuel prices were flat for the week.
The official inflation forecast for 2012 is 5%-6%. The Economic Development Ministry had expected July inflation to run 1.2%-1.4%. Deputy Economic Development Minister Andrei Klepach said in mid-July that inflation could top 6% by the end of the year, though insignificantly. The ministry will issue an updated forecast late this month.
Economists are of the view that inflation this year will be up somewhat from last year's at 6.7% (versus a 6.1% prediction from a consensus survey prepared by Interfax at end-July). Record low inflation figures last year were achieved due to substantial price drops for vegetables and cereals against the backdrop of the 2010 harvest, which was much harmed by prolonged hot weather and drought.