Russia Inflation Rate Rises to 7.3 Percent in February


Russian inflation rate rose to 7.3 percent year-on-year in February of 2013, up from 7.1 percent in January of 2013. In monthly terms, prices rose 0.6 percent according to a release from the National Statistics Institute.

The annual inflation rate soared, in February, to its highest value since August of 2011. 

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 for cucumbers rose by 15.8 percent and potatoes, onions, cabbage, fresh, grapes and pears increased between 4.3 to 4.7 percent. At the same time, the price of tomatoes, lemons and oranges fell between 1.5 to 2.0 percent.
 
At the end of February, the cost of a minimum food basket in Russia averaged 2,693.3 rubles per month which is a 1.2 percent increase from January of 2013.

Rosstat | Nuno Fontes | nuno@tradingeconomics.com
3/5/2013 1:09:04 PM