Weekly inflation in Russia slowed slightly to 1.93% weekly until March 18 from 2.09% a week earlier, bringing consumer prices up to 7.67% since the beginning of the year, according to data from the statistical service Rosstat on Wednesday, according to Reuters.
Inflation in Russia has accelerated in recent weeks amid falling rubles to an all-time low and signs of growing demand for a wide range of goods, from basic foodstuffs to cars, amid expectations that prices will rise further.
In the week to March 18, prices for almost everything, from baby food to pharmaceuticals, rose sharply, with sugar and tomato prices rising by more than 13% and 8% respectively, according to Rosstat.
The central bank, which is aiming for 4% annual inflation, maintained its key interest rate at 20% in March and warned of an impending rise in inflation and economic contraction.
Source: Capital
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