Russia Inflation Rate Up to 7.1 Percent in January


Russian inflation rate rose to 7.1 percent year-on-year in January of 2013, up from 6.6 percent in December of 2012. In monthly terms, prices rose 1 percent, according to a release from the National Statistics Institute.

In January, the overall increase in food prices (+ 7.2 percent year-on-year) was mainly due to a significant rise in fruit and vegetables. The price of grapes, cabbage, cucumbers and tomatoes increased by 15 to 24 percent and for potatoes, beets, carrots and onions by 9.5 to 12.3 percent. The price of oranges fell 1.1 percent from a month earlier. 

In the group of alcoholic beverages, prices for commercial vodka rose by 15.6 percent and for premium vodka by 6.1 percent. In addition, the price of semolina increased by 3.1 percent and wheat flour by 2.9 percent.
 
At the end of January, the cost of a minimum food basket in Russia averaged 2,662.2 rubles per month which is a 1.9 percent increase from December of 2012. 

Rosstat | Nuno Fontes | nuno@tradingeconomics.com
2/5/2013 12:37:36 PM